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Updated over 5 years ago,
wholesaling a house with an open permit? - Rockland County, NY
Hi all,
Has anyone dealt with a wholesaling opportunity that involves an open permit? Is it something that's worth bothering with, meaning, would cash-buyers/investors consider buying a house with open permits?
I have come across a wholesale opportunity that seems pretty good in several ways, except for this one issue. It has an open permit of over 10 years. Long story short, the owner of the house got a permit in 2007 to build an extension on the first floor for his wife who had become disabled due to stroke and needed to live downstairs at all times. Sadly his wife passed away less than half way through the construction and the owner just dropped everything, leaving that part of the house unfinished with wood and metal beams revealing.
The seller is really motivated but is it something i want to or even can bother with? If so, what are some of the problem solving strategies?
Thanks so much in advance!