Buying a house in Mckinney Texas : Affected by lightening fire

[Satya Patil]

Hi All,

This is my first post in this forum! I am in process of buying a single family home as an investment property in McKinney, TX. From the disclosures I understood that there was a fire in the attic caused (previous owners version) by lightening. The cost of repairs was 70k+, which included new insulation, new rafters and beams in the roof, new roofing, new heating and air units (since they are in the attic), etc.

Now I am in two minds as to whether or not pursue this home further. Rest of the house is in good conditions. Will this fire damage become a problem when I have to sell this house. 

I have 1 week option period till next Friday. I have scheduled an inspection next week.

Any feedback, help as to whether or not pursue this home any further is greatly appreciate.

Thanks,

Satya

[Naveen Desai]

Hello Satya, 

   What is your plan for the house. Are you rehabbing it and will you occupy to live-in? Or are you planning to flip it. Either way, you may want to talk to the city and make sure what all needs to be done to meet the code and all requirements to get a CO ( cert of occupancy).  May be also talking to the local fire officer may help. 

You will probably have to involve- architect, and environment verification consultation etc,.. If this is your first venture, you may want to have the appetite & holding power for it.  Else you may want to pass on.  If you do the latter- please ping me. :)

Thanks,

Naveen.