Need help regarding a strange situation please.

[Dana Richardson]

My husband and I are going to look at a house to buy for us personally that was just listed on the 26th.  Our realtor said that there are 9 interested parties to see the house and they have one hour on Sunday that 3 others and ourselves have an hour to see the house.  My realtor doesn't know if we will each  be given 15 min., or if we will go at the same time.  She said the realtor wasn't going to look at offers until Monday.   This house is priced low, but it is also in bad cosmetic condition.  Old wallpaper everywhere, old carpet, paint, and yes outdated kitchens and bathrooms.  The pictures show cluttered rooms.  So I would expect this to be selling for less.  Do you think with all this activity, that these are investers looking to rehab/flip this property?  I've never seen anything like this.  This is just an average area.  I want to really get this house, any tips?

Thanks!

[Ned Carey]

My guess is that it is investors looking. Investors need to buy at a price lower than a homeowner can pay.  However as already mentioned it can be tough for a homeowner to get financing for a "Fixer Upper." 

Banks do not want to lend on a property that will not sell easily if they have to foreclose. If the property is simply tired and dated then financing may not be a problem. If the property is not up to code then special construction financing will be needed