Thursday, June 07, 2007
House hunting at an impasse...
Many of you will be relieved to learn that there will be less written about our adventures in real estate since we have reached an impasse. The one home in particular we really wanted while vacant and in arrears in property taxes is still priced above the value of the home. Perhaps in a month or two the seller might be more motivated towards a more realistic price since it is currently far above the value of the home given some of the repairs that would be necessary.
1 comment:
If you make a list of the needed repairs (with "SWAG" guesstimates (usually high) and deduct them from the sale price, you just might get them to see the light in accepting a lower offer; it's a common tactic in "the business" of real estate investing ;-)
Also undervalue what you estimate it will be worth after the needed improvements.
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