04-27-2014, 11:03 PM
The pictures are very flattering to the house. There are several notable problems with it.
The roof needs to be replaced which would be a very large expense. The entire exterior of the house is shedding paint. The balcony off the master suite is not safe to walk onto. The master bathroom has no flooring at all (only subfloor) and I don't think the plumbing works. The pool is an unknown, they either don't know what is wrong or won't say, but it isn't usable. The landscaping is half dead and what isn't is overgrown. I'm pretty sure something died in the hot tub, it's never going to be usable. The dining room has old dark paneling. Every light fixture is either broken, missing, or from the 70's. The kitchen has new cabinets but they are not the quality you would expect in a nicer home. There are garage power strips along the wall in the kitchen. There are multiple exterior doors with broken hardware. The other bathrooms upstairs are not usable.
You might say, why am I interested in the house? Well it does have great square footage, location and a great view. I think if the house could be purchased at the right price it would be ok to invest $100k into it. The current owners bought it on a foreclosure for $280, invested about $30k from what I can see, and are now asking over $400k. I would need to get it a lot lower to even think about it.
The roof needs to be replaced which would be a very large expense. The entire exterior of the house is shedding paint. The balcony off the master suite is not safe to walk onto. The master bathroom has no flooring at all (only subfloor) and I don't think the plumbing works. The pool is an unknown, they either don't know what is wrong or won't say, but it isn't usable. The landscaping is half dead and what isn't is overgrown. I'm pretty sure something died in the hot tub, it's never going to be usable. The dining room has old dark paneling. Every light fixture is either broken, missing, or from the 70's. The kitchen has new cabinets but they are not the quality you would expect in a nicer home. There are garage power strips along the wall in the kitchen. There are multiple exterior doors with broken hardware. The other bathrooms upstairs are not usable.
You might say, why am I interested in the house? Well it does have great square footage, location and a great view. I think if the house could be purchased at the right price it would be ok to invest $100k into it. The current owners bought it on a foreclosure for $280, invested about $30k from what I can see, and are now asking over $400k. I would need to get it a lot lower to even think about it.