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Updated almost 9 years ago, 02/02/2016
Seeking advice - driveway encroachment
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!!!