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Updated about 13 years ago on . Most recent reply

User Stats

77
Posts
6
Votes
Jerry D.
  • Houston, tx
6
Votes |
77
Posts

Need advice on House I found this is weird.

Jerry D.
  • Houston, tx
Posted

Have seen this house for at least two years sit vacant and finally this weekend a sign is in the yard for sale by owner. Longstory short look at the house and everything is great but a small issue with roof that needs to be replaced and some carpet. The guy was asking 59k to buy or owner finance for 69k. I told him I was an investor and turns out so is he. Somehow he buys properties in bulk from banks and then unloads them. Some unseen. Not sure how he does this but I digress. The weird part is I looked at the house twice and we came up with a price of 45k if I don't do an inspection but 50k if I do. He says he doesn't want to tie up the house for a period of time incase another buyer wants it. At 45k it is a pretty good deal. At 50 it is still a decent deal. I even offered a 500 option fee so I could do the inspection and he said no. Those were his two prices so take it or leave it. I am sure he just wants to flip it but its weird that I can't do an inspection but for the other price. All foundation looks good only thing that would maybe be a problem is AC could not work though it looks fine. Roof was ok from inside I looked in Attic and I could turn the water on myself. Anyone ever dealt with anything like this. He basically said as is no inspection for 45k and 50k if I want an inspection. House is probably worth about 65-70k.

Most Popular Reply

User Stats

171
Posts
46
Votes
Bill W.
  • Real Estate Investor
  • Austin, TX
46
Votes |
171
Posts
Bill W.
  • Real Estate Investor
  • Austin, TX
Replied

You can expect a lot more wrong with the house if it has been vacant for two years. Empty houses don't maintain themselves and they may require repair due to decay, vandalism or animals.

Would I buy a house without an inspection? Yes, however not with the amount of discount on the purchase price that you stated and, more importantly, not from someone who was pushing me not to get one.

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