You need to tour this property. Your questions are good ones and your real estate agent can tour and answer your questions if you are not available. Often these homes are shabby and unloved, but yet have excellent potential and liveability at a very attractive price. If Gaylord has code compliance, you can use their input to assess what would really need to be done. Cheap is relative, especially right now with so many properties more or less abandoned. If you want further help, don't hesitate to contact me directly, Liz, 612-986-4105.
PS If you are a first time buyer, you are eligible for some good perks. IF you fix up a property, there are also credits available for energy improvements such as heating and other components, new windows, etc. Think about it! The FHA 203 K is a great program for those who do not own a home right now.... more