Home Buying in Philadelphia>Question Details

D. W., Home Buyer in Philadelphia, PA

there is a 1 bedroom condo for $99, 990. it is a handyman's special. the tub has a hole in it, the windows

Asked by D. W., Philadelphia, PA Mon Dec 1, 2008

need to be replaced, the heating/air conditioning does not work...needs to be replaced, and some of the kitchen cabinets have missing doors. What is a feasable asking price?

Help the community by answering this question:


If you are aasking what should be offered for the property, you would need to get a buyer's agent to assist you with this. A buyer's agent will look after your needs and concerns as well as answer any question you may have.

They will determine what the average sale price is for a similar home in updated shape and subtract what it would cost to fix up. This would give you what should be offered for the property.

Another question you would need to answer is, how long will you occupy the home? Are you just going to fix it and sell it? Are you planning on staying there for more than 5 or so years?

There are a lot of questions which should be answered in order to answer your question. Find a Realtor to work with. It's usually free service.

Hope that helps,

Terrence Charest
1 vote Thank Flag Link Mon Dec 1, 2008
You have received some great advice here. just wanted to know there are rehabs loans available to help you with the repairs. Just ask your mortgage company. Good luck.
0 votes Thank Flag Link Tue Dec 2, 2008

You have received some good answers already. In addition to what they said, I would need to know where the condo is. We are an expert and specialize with condos. But to answer the question, the location will be paramount as the average 1 bedroom condo in Old City will sell in the high 200s to 300s depending on the size . Which would be a vast difference between if it was out in the NE or the NW.

Feel free to email us at thesomersteam@yahoo.com for more info.
0 votes Thank Flag Link Mon Dec 1, 2008
Take an agent with you to see the home. They will bring the comparables and subtract what is needed to get the home in livable shape. If you are using a mortgage company versus cash, they may need to see that the home is able to be occupied. They will need to have a township or city building inspector come in and provide a U & O certificate. You pay nothing for an agent to represent you. However you will pay for your mistake of not using one, when you buy a home without professional experience and advise.
0 votes Thank Flag Link Mon Dec 1, 2008
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