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Updated about 9 years ago on . Most recent reply

User Stats

1,261
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346
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Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
346
Votes |
1,261
Posts

Failed Septic Property only being offered to Owner Occupants

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

Hello

A HUD owned property hit the market in my city offered only to owner occupants. the property was listed at 300k. I have an accepted offer of 275k.

The property has a cess pool and most likely will not pass a title v inspection. 

I know most owner occupants in the area do not have 275k cash. I know banks will not give you financing if there is no title v. 

I have a 14 day due diligence period where I am going to bring a contractor to the property to inspect the system and see what needs to be done to get the title v. 

If this turns into 30k worth of work what what can I do? 

thank you

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