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Originally Posted by Leingod
It explains the bullet holes at least....
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Hey Lein,
Are you officially dunzo with trying to buy that house now or are you still thinking about it?
I was pondering your situation and I came to the conclusion that IF you still plan to press forward with this house, it might actually be better to take the 15k vs having the homeowner “fix” the foundation just so that you know it gets done properly. I would anticipate an extra 5-10k just in case bc no renovations ever go to plan and foundation repairs are no joke.
On the plus side, when it’s done you’ll have the most kickass dry safe and secure basement/foundation on the block.
PS— if the inspector found an active aka wet spot in the ceiling, I would get a roof inspection done as well if the og inspection didn’t include it, I bet at a minimum they’ll come back with a partial or full roof replacement recommendation. You can use that to drive down the asking price as well. Figure 5-15k for a partial to full roof replacement.
You can fix anything with enough skill and $$. You can’t fix location tho. If the renovated comps in your area are high enough $$, and you’ll be in the house long enough to build back up some equity it COULD make sense
Just don’t fall into the trap of overcorrecting the house and then you’ll never be right side up money wise. Your realtor should be able to run a bunch of the comps for you if they haven’t already, you can also use Zillow to get an idea for yourself. Don’t forget to snoop around on the property tax website to see what houses have recently been selling for in your area.