Trulia Voices—Galivants Ferry

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How much is too much to pay for a major fixer upper in Galivants ferry? The house is a 3 bedroom 1 bath brick

house on a
half acre, all of the windows are broken, the foundation is dirt, and the house is settling and causing cracks in the structrue, it needs a new roof, It has no heating or air, and the kitchen has been completly gutted. The house is on a dirt road, with no cable access, and well water. It has been recently vacated by people I know and the company that owns the mortage is on the other side of the country. I'd like to know how much is too much to offer for this property. The people who left the house owed about $80,000.00 on the house, but the bank said they wouldn't loan any more than $50,000.00 on it.
Sat May 10 2008, 11:05 - Galivants Ferry - Home Buying - 1 answer
 
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Mary
Home Buyer
in Galivants Fe...
Mary, Home Buyer in Galivants Fe... in Galivants Fe...
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Kelley Galla… was FIRST TO ANSWER
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Mary,
Sounds like its gonna cost more to repair or tear down the house than its worth. 1/2 lots in the area are going for $35k-$75k. Sounds like the bank is between a rock and a hard place. It would depend on the adjoining land and whats on it as to what I would personally offer. I definitely wouldnt pay $50k for it. Feel free to contact me for comparable home/lot sales in the area. These would help to give you a starting point if you seriously wanted to consider purchasing this property.
Kelley

Mon May 12 2008, 05:01
 
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