All Forum Posts by: Daniela R.

@Bruce Woodruff

Thanks! Yes, that's what I'm doing. Now I am curious as to how that house will get to be sold and at what price.

@David Dachtera

Thanks for the reply. I ended up terminating. Seller didn't want to negotiate. I'm starting to think the seller got previous offers that were lower, and mine was chosen only because I offered the actual 225K.

I'm just glad I terminated.

@Bud Gaffney

Thanks, did just that! Moved on.

@Steve Miklashevskiy

Comp values are 220K min and 254K max (this one includes all appliances, but they don't mention roof, HVAC or plumbing).

I was calculating those expenses too and the more I did the math the more I got discouraged.

Ended up terminating the deal, because seller didn't want to negotiate.

@Tamika Price - Edwards

Thanks, I ended up terminating the contract. Seller was unwilling to negotiate. I moved on.

@Bruce Woodruff

Yeah, I was interested because I needed a place to live but I was just going to stay there for 10 years max. But I just imagined myself fixing everything...and I don't think that's a good experience for my first time home, not even as an investment. Too much work and as someone else also pointed out is a 2 bed / 2 bath. What made it worse is that seller wasn't even interested in replacing the roof or give me half the cost to fix the AC. So I just terminated. I have no idea why someone would buy a house in that state. Seller said they got multiple offers, and I must admit house has a good visual appeal, but it doesn't come close to the expense of repairs.

@Bruce Woodruff

Ended up moving on. Seller didn't want to negotiate.

@Chris London Hi thanks for the reply, the 254K is fully renovated but I don't know the state of the HVAC, roof and water heater. It's from the same year though 82'.

@Joe Villeneuve

Would a good strategy be to later find a better investment, rent that one out while paying the current home? I think someone above suggested something like that. I was adding numbers and also reached to the conclussion I won't be able to make any gains after including repairs. I think to make actual profit I would have to sell it at 300K which to me sounds unrealistic given the year the house was built.

@Theresa Harris

Roof was visible yes, we were concerned. But didn't expected to find all other important components near the end of their life as well. Regarding comps, min. price 220K max. 254K. I haven't read anything regarding the state of the roof though. Electritian says electric panel needs to be replaced entirely, breakers being used are not compatible. Roofer did say home warranty wont want to cover roof replacement. HVAC tech indicated cooling is a hit or miss b/c thermostat doesn't work and refrigerant (R22) is too low to properly test the system would need to refill to evaluate. Also, HVAC is old as well and is probably leaking because of low refrigerant present. Water heater tank is from 1966 as well. Plumber says is in Ok condition but it is a hit or miss as well. Thermostat doesn't work, so furnace is not operative at the moment yet doesn't seem to be damaged.

When I referred to minor things yes, I included the insulation and some burnt lightbulbs, windows that don't open, a half working oven and dishwasher, and a tree growing next to the house tilting the condenser to the side and too close to the foundation (inspector and plumber said it will have to be removed to not mess up with piping under the house).