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Updated about 9 years ago on . Most recent reply

User Stats

78
Posts
35
Votes
Dawn Curry
  • South Jersey
35
Votes |
78
Posts

Seeking advice - driveway encroachment

Dawn Curry
  • South Jersey
Posted
Hey all! So my girlfriend and I have put a bid on a flip house however we haven't heard back from the selling agent yet. We are still looking at other potential buys.. Buy and hold or flips.. on the market. So that being said.. We came across this house (http://www.zillow.com/homedetails/71-New-Jersey-Ave-Pennsville-NJ-08070/39820766_zpid/). Asking: $45,600 Bid: $20k Rehab: $15k ARV: $80-100k We're looking to rent this property at about $1,000/month. We haven't taken a tour inside the property yet, but I was wondering if anyone has come across encroachments when buying property? It says that there is a driveway encroachment. I know what hat means.. But I just don't know what will come out of that? Court? Tear it up? Fees? Fines? I didn't know if this is something that I should be worried about, which would decrease our ROI? Or is this something minuscule? Advice is appreciated!!!

Most Popular Reply

User Stats

12
Posts
5
Votes
Nikolas Buchholtz
  • Palatine, IL
5
Votes |
12
Posts
Nikolas Buchholtz
  • Palatine, IL
Replied

I don't know much about what you said, nor did I give it much thought, but a word of advice is never post a houze or property you want to buy someone will go put in a slightly higher offer and you'll lose the bid and property to someone else who you gave this property too just a heads up

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