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Updated about 9 years ago on . Most recent reply

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13
Posts
1
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Qusay F.
  • Buffalo, NY
1
Votes |
13
Posts

Underpriced multi-family with foundation issues

Qusay F.
  • Buffalo, NY
Posted

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

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