Makes me wonder if the homeowner or contractor were trying to save money by cutting a few corners.

I don't know the exact cut-off and it would vary per area, but if your house is old enough (1920 is near this tranitional time), the lumber could be true sized rather than nominal.

All this talk about multiple offers shows a market that could be underway towards increasing prices.My condo complex has 340 units and we have had values cut in half with properties just sitting for long periods, no action.Just noticed, everything except 2 units have sold, at huge discounts mind you, but sold nonetheless.Condos are the firt to crash and the last to comeback.

If they are not entirely motivated to sell their home, I would just cut it short and move on to someone who needs to sell quick.

Also the recent comps are $240,000 (for a great renovation), $225,000 (for a pretty good rehab....nice kitchen, nice bathrooms, good curb appeal, standard everything else), $190,000 (for average rehab.....basic, cut on finishing materials, etc.).

My impression is that the carriers that still do business here are trying to cut out risk anywhere they can because of future hurricane possibility.

Take a look, listen to what the seller/real estate agent says, cut that in half.At least, that seems to be how most wholesalers do it!

That gives the lender the right, but not obligation, to call the loan.Ways to come up with more cash include:- Borrowing from a 401k account (puts your retirement at risk)- Borrowing against existing property (puts your existing property at risk if the rental goes bad)- Selling stuff- Cutting spending and increasing savingYet another approach is to buy a property using hard money.

I know of no short cut here.

I charge a much higher lease9. if I really want the house sold I give credits for the down payment, if I don't want the house sold I give credits for the price of the house10. for owner benefit have the term be 1 year, for tenant benefit have the term be 2-3 years11. at expiration of the option if tenant has no gotten a conventional loan or hit the lottery [ megabucks in Las Vegas ] he is vacated, 12. rinse repeat, until a tenant actually purchases13. [ lucky 13 ] pay taxes on the option down payment, and keep what's left overGeneral Housekeeping- have an escrow company hold all payments until all contracts are signed by both home owner and tenant- all payments are collected by 3rd party company, owner's bank get its payment, I get my cut- I take out title insuranceAssignment- once all paperwork is signed and money is rolling in and tenant is paying, sell the entire deal to investor, as cash flow, for an assignment feeDid I leave out anything?