Hey guys,
So I have a house under contract, it's a 3bed 2bath. Its 1428 square feet, ARV is 93,800-116,000 (I settled on 109 in my whole sale packet), I put my repair cost at 15k. Now the 15 is NEEDED repair I've made it this way as the house has oil heat (oil tank underground) and people would likely want to change that.
The interior is all original, therefor in need of need of new cabinets and such. Carpet needs replacement, or ripped off for the hard woods underneath. Lastly bath rooms need upgrading too. With all of this I'm at 60k asking price. Now my issue is the neighbor is a hoarder. Should I come down in price because of this and add a privacy fence to the repair cost, hence dropping it down to 57k? Also, Arv being what it is am I offering a good deal at this price? I can't get the deal lower than 58 otherwise then I make next to nothing on the assign. Also should I have the buyer cover a soil test as seller and I cannot put the money down for one.
Help is welcomed if you have questions about the property in question or need more information ask or message. I really need to figure this out and do my first deal.