Floor Settling

[Gary St. Armand]

I have an appointment to look at a house that is a duplex that was built 1954. The lowest comp I saw, on cyberhomes was 439K. The seller was told by a contractor that the floor is settling, and it will cost him about 75K to repair the floor. I wanted to know if any of the veterans in the CT area had faced such an issue. I am not looking to rehab the house, I just want to get a real sense of what kind of repair cost the rehaber-end buyer will face, and so that I can make an intelligent offer to the homeowner. The owners seems to think I may need to start from scratch and rebuild. The property is located in CT, if that helps. I will not be rehab this house. The goal is to flip it to a rehabber. It would really help to hear from the rehabber that has personally delt with this issue or has been in the game for more than a decade.