I have a new girlfriend and in our conversations she told me about this house she saw driving to work. It is vacant and looked like something I could help her with. I started structuring what I thought would be a good offer and while checking things out, discovered there's an offer pending. A little disappointed, but at the same time, I realized that I've gained a lot from Dean's books already.
Sooo, she visited me this weekend and we were talking about finding another house for us. She just started a new job last week and is commuting 45 minutes to work at the moment. We decided to do a search with a 10 mile radius of her new job.
Found a house that's listed for 72,200 down from 95,500. States it's a fixer upper. Been on the market for about 200 days. Going to see it Probably Thursday afternoon.
Sales in the last 60 days are in the 110k-150K. Go back a few months and there are more in the 200K range. Lots of schools in the area.
Here are my thoughts that I want to put into the contract. I realize I need to do a bit more research. But want to get some feedback from the forum.
1st idea is to make the offer for the asking price PLUS whatever the repair costs will be put into the loan.
2nd idea is to get an estimate of the repairs and deduct that estimate from the offer.
Does this make sense to my fellow forum members? I'm starting to think this can really work for ME.
I have a new girlfriend and in our conversations she told me about this house she saw driving to work. It is vacant and looked like something I could help her with. I started structuring what I thought would be a good offer and while checking things out, discovered there's an offer pending. A little disappointed, but at the same time, I realized that I've gained a lot from Dean's books already.
Sooo, she visited me this weekend and we were talking about finding another house for us. She just started a new job last week and is commuting 45 minutes to work at the moment. We decided to do a search with a 10 mile radius of her new job.
Found a house that's listed for 72,200 down from 95,500. States it's a fixer upper. Been on the market for about 200 days. Going to see it Probably Thursday afternoon.
Sales in the last 60 days are in the 110k-150K. Go back a few months and there are more in the 200K range. Lots of schools in the area.
Here are my thoughts that I want to put into the contract. I realize I need to do a bit more research. But want to get some feedback from the forum.
1st idea is to make the offer for the asking price PLUS whatever the repair costs will be put into the loan.
2nd idea is to get an estimate of the repairs and deduct that estimate from the offer.
Does this make sense to my fellow forum members? I'm starting to think this can really work for ME.
Thanks,
John