Anonymous
07/16/2012 23:40
Subject: Buying an "enter at your own risk" property in hopes of fixing it up
We did it. House built in 1993 and redone in 2006. Owners from 2006-2009 destroyed the interior but exterior was fine.
Spent $130,000 fixing a home we paid $540,000 for. appraised for $725,000 before we were done fixing it up.
Husband thought it would appraise for 10% more if we just took out the dirty carpet and painted. It probably would have but I insisted on replacing absolutely everything I would touch because I was grossed out.
Spent $130,000 fixing a home we paid $540,000 for. appraised for $725,000 before we were done fixing it up.
Husband thought it would appraise for 10% more if we just took out the dirty carpet and painted. It probably would have but I insisted on replacing absolutely everything I would touch because I was grossed out.
Anonymous
07/04/2012 20:52
Subject: Re:Buying an "enter at your own risk" property in hopes of fixing it up
You don't already have a contractor? Then, no. You are not qualified to do the work required to get the property livable. Also, you may have trouble getting a mortgage and insurance if the building is condemned. FYI, it could cost much more to renovate than tear down.
Anonymous
07/04/2012 19:22
Subject: Buying an "enter at your own risk" property in hopes of fixing it up
I did it. I must agree with 19:19 on his/her point. If you are asking strangers then you don't have any clue what you don't know.
Anonymous
07/04/2012 19:19
Subject: Buying an "enter at your own risk" property in hopes of fixing it up
If you need to ask an anonymous forum for experiences with this, you are not qualified for such a purchase. Don't do it.
Anonymous
07/04/2012 18:43
Subject: Buying an "enter at your own risk" property in hopes of fixing it up
Anyone been there done that on this type of home?