Home owner is relocating and wants to sell 4 bedroom 2 bath 2,200 sq/ft house in good neighborhood.
Amount Owed: $103,000
Repairs: none (he says)
After Repaired Value: $160,000
Max Offer: $104,000
I have two problems.
1. I cannot get MLS listings because my agent has quit. I have requested listing from another agent and I am waiting.
2. I have no money. I cannot come up with $100k+, maybe about $50k. I have no lender or investor lined up.
He said he was in No Hurry to sell, but entered $150,000 as the least he would take to sell fast.
I closed on the Bathroom Hole House last Friday. On Saturday I made a video that shows the bathroom hole. On Monday I met a contractor at the house and found that a vandal had broken in and repaired the bathroom hole. It appears to be fixed properly and the bathroom as new linoleum. I assume this fix was contracted before closing and the workers just got around to it after we closed.
I found that wiring under one section of the house had been stolen. We also found that the bowing roof over the carport is happening because the wrong support beam was used. I do not have a good estimate for this fix yet.
I have a formal estimate from my main contractor for $15,255 and my total purchase price with closing costs was $32,679.25. So, I have spent $47,934.25.