Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Underpriced multi-family with foundation issues
Good morning BP,
I found a nice double in a good neighborhood of Buffalo that keeps getting marked down since it was listed 3 months ago. I went to see it and aesthetically its in great shape on an good street where these types of properties get snatched up in a week. The seller disclosed there is a pretty significant foundation problem. An inspector estimated repair cost at 7k to insert support pilings in the basement, but its not a lifetime guaranteed repair.
Its currently at 130k, where comparable homes sell for about 160-180k. Deal or no deal?
Anyone have similar stories or advice to share? Thanks