I've found a property in my farm area today that is 30 years old. It's a 3 B / 1.5 BA approx. 1200 sqft and it is vacant. The comps in the area range from $90k - $110k. The sellers have owned this property for about 20 years. Lived in it for 10 and have rented out for 9. Talking with them on the phone today makes me think they are just "burned out" and what to get rid of this house. Their ad said $61K obo, needs some TLC. I drove to the property today and inspected the outside. The house looked pretty good. No major repairs on the outside other than some paint and landscaping. I have an appointment to go inside tomorrow. The sellers said the inside is in good shape with new floors and just needs some paint. Based on this what should I do tomorrow to properly investigate the potential of the deal?
I've found a property in my farm area today that is 30 years old. It's a 3 B / 1.5 BA approx. 1200 sqft and it is vacant. The comps in the area range from $90k - $110k. The sellers have owned this property for about 20 years. Lived in it for 10 and have rented out for 9. Talking with them on the phone today makes me think they are just "burned out" and what to get rid of this house. Their ad said $61K obo, needs some TLC. I drove to the property today and inspected the outside. The house looked pretty good. No major repairs on the outside other than some paint and landscaping. I have an appointment to go inside tomorrow. The sellers said the inside is in good shape with new floors and just needs some paint. Based on this what should I do tomorrow to properly investigate the potential of the deal?