To proceed or not to proceed?!
I posted "have a deal working" in beg.forum. 1972; price was 55K, now 40.5K, on mkt for 15 mos. Located in Texas lake area where there is a mixture of old/new/site blt/mobile. This is common in Tx....yrs. ago no restrictions in these areas. The subject property is in an area showing pride of ownership..this is the worst condition property I saw. Realtor told me subject was a modular, I thoughtprefab, but is a old DW mobile w/ rock wainscoating .Repair will be 10-12K, (meeting w/ contractor Tues. who specializes in fixing up mobiles).Comps in area all sold w/in 2-4 mos. and were also older "modular", but in good cond. The market value is appx. 56K. My BIG concern: can I get conventional financing on this if I were to rehab & sell?
Comments(0)