All Forum Posts by: Account Closed

 Thank you, Jered! I agree with you on the marketing bit those are really good points. However I disagree on what you said about covering the wall. I would not be covering the repair  to hide it from the buyer and fully plan to disclose the repairs have been made just as I have been. I just think maybe it looks scary and that's where the problem is stemming from.

I did follow some other advise from here last night and filled in the crack in the wall. It made such a huge difference! Hopefully I won't end up needed to cover the wall but if I do I fully plan to disclose the repair.

Thanks everyone for your feedback. I had the engineer there last week just waiting on the letter and I'll upload it to the listing.

@John Negomir the basement is finished but we didn't finish off the mechanical room since it only has the furnace, HW heater and some storage space. The laundry is in a different area. The crack and the carbon armor, however, go directly through this room and is the first thing you see when you open the door. I'll have my contractor put up some sheets of drywall in there and level the floor a little better.

 I'm pretty disappointed that I over looked this and jumped right into lowering the price. I'm about $15K under the price the house "should" have sold for.

Thank you all! I hope this does the trick.

 Thank you, Sam! I appreciate your advice. The Carbon Armor is a permanent fix for the wall but I understand what you're saying. 

I completely agree with your assessment of prices. Buyers here seem picky and much less aggressive than in the recent past.

@

The repair company? That wasn't something they included with the straps (carbon armor) and there isn't any water leaking. This is my first repair like this. Do they normally fill it in when repairing with carbon armor?

HI everyone!

I have a flip on the market in Denver metro that we've done a foundation repair using Carbon Armor. The basement wall has a large crack. There is also a little settlement in one area at the garage entry way and in the mechanical room, purely cosmetic. Otherwise all the floors are level. We've had the house evaluated by an engineer and there are no issues that haven't been addressed with the foundation repair.

We've been on the market 30 days, today. We've had 17 showings and dropped the price twice and are currently sitting about 5K under market value. Most of the feedback we get is that the buyer loves the house but is scared off because of the structural issues. We've been pretty open about the repair and for the first 3 weeks we had a folder in the kitchen with information regarding the basement repair and had it in the MLS for the buyers agent. We have since removed that because it seemed like buyers were immediately scared off so now we have a note in the basement room where the repair can be seen just saying what it is and that there is a warranty for the work.

I was not expecting this much trouble selling the house when the issue has been fixed and comes with a warranty.  Plus structural repairs are pretty common around here.

I'm starting to wonder if my mistake has been leaving the area uncovered and so visible in the mechanical room. You can paint or even drywall over the wall that has been repaired and I'm considering doing so but then I'm worried that it will just fall out of contract with the property disclosure and inspection.

How do you approach selling a house with this type of repair? Is it better to just cover the repaired wall and just disclose it in the listing and in the property disclosure? How do you approach this issue when selling your own filp with these type of repairs?

Thanks so much for any help you can offer! I'm anxious to get this one sold before the holidays.

Thanks,

Jill S.

The flip I'm purchasing has tested positive for lead based paint. I know this is pretty common in pre 1978 houses but it's the first one I've dealt with. On a flip, is it better to remove all lead based paint? I know there are other options, I'm just wondering if encapsulating it and having to disclose that there is lead results in a lower selling price and/ or longer time on the market?  The house backs to a busy road and I'm a little concerned that the lead paint and the road will be to many negatives for this house. What have your experiences been?

Thank you

Jill S.

Hello Denver area investors,

My offer was just accepted on a fixer house in Lakewoord, Co. that pretty much needs everything. I am looking for GC referrals for the rehab. If you could please post here or message me I would greatly appreciate it.

Thank you,

Jill

Thank you both!

Hello,

I was just wondering if anyone knows the average cost per square foot to add a one car attached  garage to a house in the Denver area?

Thank you!

Jill S.

Hey everyone!

Thanks for the helpful info. I just got approved for a 100% LTV HELOC through Credit Union of Denver @ 6%.

 It's on my primary residence that I just bought 2 months ago. They are using the appraisal from the purchase (so no additional one required). They do require lots of documentation but over all it was an incredibly easy process.

I do believe they do HELOC's for investments but I don't know the LTV.