Just got this listing from my agent

Chainsaw13 · 09-06-2010, 09:48 AM

http://www.interfacexpress.com/porta...lient&k=154113

I started looking for a vacation property earlier this year, even had a offer on one place that fell through. Lately I've backed off looking unless the right place at the right price came up. Not saying this is one like that, but it's intriguing for the price, plus it has great river frontage on a good trout stream.

Just got an email from my agent that the listing agent won't post pics of the interior. Red flag right there. If it's just drywall and flooring, not a big deal. But if there's electrical or plumbing issues, that could be costly.

What do you all think? Worth the time/money to drive up and take a look? It's about 3 hours from my house.

hotreds · 09-06-2010, 09:52 AM

Before making a six hour RT I'd find out what the "major work" is all about! I'd hate to see you waste six hours for a big dud. They owe at least that much info to you.

Ashcan Bill · 09-06-2010, 10:20 AM

The listing states: "Home is in need of major reconstruction."

Do you have the time and know how to do all of that yourself?

If not, can you afford to put up the money to have it done?

Is the property priced so far below market to make all the work worth while, or is it a potential money pit?

Can you get a loan on it in it's current condition (assuming you plan to finance it)?

If you're confident on the above points, then I'd go take a look and do some serious estimating. Wouldn't hurt to take along a home inspector or good contractor as well. Might cost you a few bucks but it could save you from making a costly mistake.

RGD. · 09-06-2010, 12:41 PM

"Home is in need of major reconstruction." and "Structurally fine." don't normally go hand in hand. Major remodeling and structurally fine I have no problem with. Maybe it's a bad choice of words on the listing agent.

This home appears to be a late 50's early 60's home - built on a crawl space which brings up the red flag in my opinion.

Take Bills advice on the home inspector instead of you driving out to see it. Don't let the agent get one for you - look up and find one yourself. A good inspector will give you a detailed report with pictures and normally relative cost of repairs. And I say relative costs because they are not contractors.

Good luck with it all.

Ron

mosesbotbol · 09-06-2010, 12:48 PM

100% there are issues on the inside unless the interior is meth lab and they don't want pictures.

Could you afford a tear down and pre-fab rebuild on the property? The house being in such lousy condition, you should be get them down on th price for sure.

Beautiful views around the property that is for sure!

Chainsaw13 · 09-06-2010, 12:49 PM

Thanks guys, I hadn't thought of hiring a inspector myself before looking at it. Iv'e been thinking about this all morning and doubt I'll buy it. I"m good with fixing things myself, I've done a kitchen remodel and finished a couple basements, so I have some handyman skills. But from the sounds of things, this might be more than I want to take on. I can easily hire the major work out. However I have reservations about getting the right quality of work done when I can't be there every now and then to oversee things.

The search continues.

hotreds · 09-06-2010, 01:34 PM

Probably a good idea!

09-06-2010, 09:48 AM	#1
Chainsaw13 Møøse bites can be nasty Join Date: Jan 2010 First Name: Bob Location: The Enchanted Mitten Posts: 7,040 Trading: (96)	Just got this listing from my agent http://www.interfacexpress.com/porta...lient&k=154113 I started looking for a vacation property earlier this year, even had a offer on one place that fell through. Lately I've backed off looking unless the right place at the right price came up. Not saying this is one like that, but it's intriguing for the price, plus it has great river frontage on a good trout stream. Just got an email from my agent that the listing agent won't post pics of the interior. Red flag right there. If it's just drywall and flooring, not a big deal. But if there's electrical or plumbing issues, that could be costly. What do you all think? Worth the time/money to drive up and take a look? It's about 3 hours from my house. __________________ My neighbor came by my house this morning at 2AM, pounding on the door. Good thing I was still up playing the drums.

09-06-2010, 09:52 AM	#2
hotreds Ephesians 2:8 Join Date: Oct 2008 Location: 5 miles past "Resume Speed" Posts: 11,658 Trading: (63)	Re: Just got this listing from my agent Before making a six hour RT I'd find out what the "major work" is all about! I'd hate to see you waste six hours for a big dud. They owe at least that much info to you. __________________ God loves you so much, that he made you read this, just to let you know.

09-06-2010, 10:20 AM	#3
Ashcan Bill Ol' Dude Join Date: Oct 2008 First Name: Bill Location: Henderson, NV Posts: 1,890 Trading: (6)	Re: Just got this listing from my agent The listing states: "Home is in need of major reconstruction." Do you have the time and know how to do all of that yourself? If not, can you afford to put up the money to have it done? Is the property priced so far below market to make all the work worth while, or is it a potential money pit? Can you get a loan on it in it's current condition (assuming you plan to finance it)? If you're confident on the above points, then I'd go take a look and do some serious estimating. Wouldn't hurt to take along a home inspector or good contractor as well. Might cost you a few bucks but it could save you from making a costly mistake.

09-06-2010, 12:41 PM	#4
RGD. God Like Status Join Date: Oct 2008 First Name: Ron Location: Alexandria, Virginia Posts: 971 Trading: (1)	Re: Just got this listing from my agent "Home is in need of major reconstruction." and "Structurally fine." don't normally go hand in hand. Major remodeling and structurally fine I have no problem with. Maybe it's a bad choice of words on the listing agent. This home appears to be a late 50's early 60's home - built on a crawl space which brings up the red flag in my opinion. Take Bills advice on the home inspector instead of you driving out to see it. Don't let the agent get one for you - look up and find one yourself. A good inspector will give you a detailed report with pictures and normally relative cost of repairs. And I say relative costs because they are not contractors. Good luck with it all. Ron

09-06-2010, 12:48 PM	#5
mosesbotbol That's a Corgi Join Date: Oct 2008 First Name: Moses Location: Boston Posts: 6,171 Trading: (6)	Re: Just got this listing from my agent 100% there are issues on the inside unless the interior is meth lab and they don't want pictures. Could you afford a tear down and pre-fab rebuild on the property? The house being in such lousy condition, you should be get them down on th price for sure. Beautiful views around the property that is for sure! __________________ Port Wine & Claret \| British Cars \| Welsh Corgi's

09-06-2010, 12:49 PM	#6
Chainsaw13 Møøse bites can be nasty Join Date: Jan 2010 First Name: Bob Location: The Enchanted Mitten Posts: 7,040 Trading: (96)	Re: Just got this listing from my agent Thanks guys, I hadn't thought of hiring a inspector myself before looking at it. Iv'e been thinking about this all morning and doubt I'll buy it. I"m good with fixing things myself, I've done a kitchen remodel and finished a couple basements, so I have some handyman skills. But from the sounds of things, this might be more than I want to take on. I can easily hire the major work out. However I have reservations about getting the right quality of work done when I can't be there every now and then to oversee things. The search continues. __________________ My neighbor came by my house this morning at 2AM, pounding on the door. Good thing I was still up playing the drums.

09-06-2010, 01:34 PM	#7
hotreds Ephesians 2:8 Join Date: Oct 2008 Location: 5 miles past "Resume Speed" Posts: 11,658 Trading: (63)	Re: Just got this listing from my agent Probably a good idea! __________________ God loves you so much, that he made you read this, just to let you know.