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Updated over 11 years ago,
How much should I expect to pay for a SFH that has been fully gutted??
I am a newbie to all of this so I am asking for some advice. I sent a yellow letter to a home that looked like demolition was in progress but was stopped for some reason. Yesterday, I actually got a call saying that they would love to sell the house. They are motivated to sell because the demo just became too time consuming with young children and they could use the money. (they own it free and clear) They have completely gutted the home. They put a new roof on the home and they have installed a sump pump in the basement. The house need everything else: Electrical needs updating, HVAC, new windows, fixtures, appliances. They are asking $25,000. It is a smaller 2 bedroom, 1 bath home where the previous owner had apparently converted the only garage into a third bedroom. Other houses in the area are selling for mid 60's to low 80's. I estimate the home to be a little over 1000 square feet above ground plus a full basement. Before I look at the home, I just wanted to get some clue as to what a typical home of similar size that has been gutted should sell for. Any advice would be appreciated.