Can Someon Approximate Costs For Me Please...
I am looking at a house...I think the current owners over-payed for the house (they are rehabbers)
They paid $115,000 it is a small 1144 sq ft 3/1 in a decent part of town.
My comps say the house is between $105-125K.
Should I even waste my time submittig an offer?
They have put a new roof on, new carpet, swamp cooler, paint inside, fix a few leaks, did some re-wiring.
I'll probably drop this one.
Hi OC,
You only waste time by doing nothing.
Make a low offer and see what happens.
Good luck
Yeah,
I'd probably drop this one but you never know they may need the cash. If they own it outright, it could be a good deal for you at 70% of the "as is" value. If they have a mortgage you're probably screwed on this and so are they.
I'm concerned with your values of the finished house. A $20,000 swing is a huge diffence. Since you have to make your offer based on what you can sell if for at your numbers if the house sells at the high end you make money, but at the low end would you take it in the shorts?
Why is there such a huge swing in the final worth of the house?
I try to be within $5000 plus or minus.
[addsig]