This weekend I got into the Bathroom Hole House and took some pictures.

I have made a video walkthrough of this house.

There are two major issues:

  1. The house as a separate apartment attached – a mother-in-law suite. This suite has two entries, one form the garage and one in the back. There is no way to get from the main house to the mother-in-law suite. The mother-in-law suite has a living room, dining room, kitchen, bedroom and bathroom. It also has a separate power meter. I am not sure what to do with it. Should I leave it as is, or open it to the rest of the house and remove the kitchen and extra power meter?
  2. I am not sure what to do about the pool. I have left messages with a couple of pool repair companies and I am waiting for call backs. I need a repair estimate before deciding if I will keep the pool, or fill it in.

I have contacted the top real estate agent in town about listing the house. She is going to meet me next Monday and give me her advice on this house. I hope she will give me some insight into which way to go with these two options.

Here is a picture of the pool:

Makes you want to take dip, doesn’t it?

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My offer has been accepted on the Bathroom Hole house. Initially, I was not able to get into the house. A small bathroom window was open and I tried to climb in and I barely fit into the window. When I got half way in I saw a hole in the bathroom floor – right under the window. The hole was about 3’ X 1‘ and I would have fallen in if I climbed in. I have never been inside this house.

I conservatively estimate that this house will sell for $100,000 which I explained in a previous post. I will be getting it for $32,000. I do not have a detailed repair estimate, and I have not even been inside the house.

The Negotiation
I originally offered $23,500 as detailed in my original post. My agent had to enter the offer into a web site and there she found that there was another offer for $33,000 with no response.

I increased my offer to $30,000, but it would be cash, close in two weeks, 10% earnest money, and waive the inspection period. I was hoping this sure-deal would carry more weight that the $33k offer – or at least get a highest and best request.

The seller countered the next morning with $39k.

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