All Forum Posts by: Gabe Waldrep

Demo is probably your best option. It will open the property up for a larger buyer market. If the seller does not have the funds, consider finding a company that will perform the demo and backfill, then accept payment upon closing. If that does not work, then cash or conventional would be your only options.

I would agree with Jason. You definitely don't want them sitting around the property during the renovation process. They have a tendency to grow legs at some point and disappear. If they are actually still there when you finish, they will most definitely be damaged. And trying to store them somewhere will cost way more than any savings achieved. Sales happen all the time. Appliances should be one of your last things right after you have the property cleaned but before your punch list.

The photos look great. Staged well and clean. The are only two things I can think of based on what buyers want in my market: 

1. The floor plan is a little closed off from what a lot buyers are wanting. Buyers want an open floor plan. Not much you can do about that, but it may drive down the price.

2. Are there any bedrooms downstairs? In our market here, homes without a bedroom downstairs, especially the master, tend to sit on the market longer and sell cheaper. 

Obviously I have no idea how your home is priced compared to other comparable sales and active listings, but I would definitely revisit those with your realtor and have him/her show them to you broken down by price per sqft. Good luck to you. 

Vinyl all the way. Snap-in is better but glue-down works fine as well. Warranty is not worth the time trying to chase it down. The planks are cheap enough that you just replace the damaged ones as needed. I will never use laminate again. It is too easily damaged by moisture and has too much of a hollow/echo sound even with underlayment.

I agree with Dustin. Every state has different requirements regarding purchase contracts. Find a lawyer and draw up one you can use.

@Brian Varmuza if I have viewed the property then I will include a quick blurb about the amount of work or updates needed. Most agents are aware of the work needed though. So don’t spend too much time explaining your reasoning.

I will often mention that I am or that I represent an investor who likes the area, has bought in the area, or something along that line. Some listing agents get offended by the low offers, and some just move on. Expect some backlash and take it in stride. Let them know you’re just basing it off of the numbers.

@Sophie Maisel yes, install the bathtub and any plumbing or electrical rough work first. Otherwise they will have to cut into your new drywall.

@Darrius Harris it’s good etiquette to let your title company know ahead of time so they can notate the file and plan ahead.

You can have the title company do a mobile close. They can send the documents ahead of time to a local notary who can meet up with the sellers, have them sign in person and verify identity and signatures, then send documents back to the title company.

What is the sqft of the house? 185k is about average for that zip code.