Badly burned home, motivated seller, What would you do?

[Lynn Dickerson]

This house was badly burned it'll most likely have to come down. The county appraised the home at 160k before the burn 2yrs ago. Homes in the area today are going for between 90k-120k.

The neighborhood is right up my alley, middle income. I would wholesale the property, not too into construction yet.

The seller is asking 35k and I know she'll go lower, but I don't know how much to offer. The county appraises the land for 28k. What do you guys think?

[Jeffrey K.]

What the city says only counts for tax time. Pull your own comps and I am sure you will find the land is worth far less. If you are not the end user pass this one up unless you have a buyer in mind. This is not one that you can market to most investors (what you want).