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Updated about 9 years ago on . Most recent reply

User Stats

18
Posts
3
Votes
Aleemah Spence
  • Fort Washington, MD
3
Votes |
18
Posts

Help with trying to figure out what price to offer

Aleemah Spence
  • Fort Washington, MD
Posted

Hello I need some help. I want to buy my grandmother's house from my uncle. Majority of the house has been gutted. This would be my first deal if I can get it to work outside of my owner-occupied that is now an investment. These are the things I'm not sure of how to determine.

1. How much should I offer to my uncle. I am going to ask if he would be willing to finance to me as the seller.

2. Should I ask him if I can have someone go into get someone to help me with the repair/upgrade cost before I come up with a price.

3. The assessed value for 2015 was $70,500; building $58,300 and land $12,200.

Anything else I am missing. I really would like to get the house but I am ok if it doesn't work. Once I get it fixed up, I plan on renting it out to a company that rents rooms for female adults.

Thanks all,

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