house location

[Shawn Mcenteer]

Im looking to purchase a home nearby and am curious to wonder why it is not selling. It has been on the market for some time now and the location is great, set back, no through traffic, extremely close to supermarket/stores etc. What i did notice was the property lines touch a condominium complex (very nice condos). My question is would the fact this home is so close to condos have an effect on it selling?

[Simon Campbell]

Originally posted by Prashant P.:

It would be a better idea to tear the house down.

If you are looking at a justifiable tear down, then the true value of the property is the value of the land, as vacant, less the cost of demolition. If the seller is motivated, then a low ball offer may be accepted. If interested, I would talk to the listing agent to see if it is a possibility and then get an estimation of the land value.