Alameda, CA · Member since 2018 · 12 posts · 6 votes
Hi everybody,
I recently found a property listed below 15% of the market price. The house is listed for sales at 320K where as similar houses in the area are about 360k. The previous owner the house passed away peacefully in the house 4 month ago because of cancer.
I wanted to buy the property, fix and rent it out. I have never purchased a property with previous owner died in a house before.
Does anyone in this forum purchase house like this before. Based on your experience, should I buy the house? Would it be hard to rent out the property?
I am thinking if I buy the house then I can put the rent price to be lower than the normal price but I am not sure if this will help.
Thank you very much for the help. I am looking for the advice.
If you can get the deal go for it. The renter's don't need to know that someone died there. There are probably many houses where the previous owner has died in the home. I don't mean to sound insensitive but death is just a part of life. If the person had been murdered it might be a different story. Good luck.
@Peter Doan whatever discount you can get on the purchase go ahead and get it now. In fact, I’d say negotiate a little more if you can. Economy wise we don’t know which way this thing will go? It’s kinda weird I’m actually closing on one where the investor passed away couple years ago and his Estate is selling the property. I didn’t know the background prior to putting in my initial offer had I known I really don’t know what I would done? In the negotiations I ended up finding out. In the End the Estate, settles at about half the listing price.. The Family is really wealthy so the proceeds from the sale their Donating to Charity... for me it’s one of the best deals I’ve gotten. Before I came across this property I been telling everyone don’t bring me any deals unless it’s at least double as is condition, this way my bets are hedged. Sounds like a good deal
I was worried about the deal but it seems like I have a courage to proceed with the deal. I will keep everybody updated how thing is going with the deal.