1) This house is worth it as once it is fixed up it will be worth 230 to 240K.
2) We have not done an appraisal as our contract was accepted 3 days ago.
3) We are doing a FHA 203K loan to fix the items.
4) We do not want the bank to fix the house just reduce the price.
5) We are offering 3k more than what they were initially asking and any other buyer would have the same issues.
6) We are 1st timers so we saw problems, but did not know that the basement will have to be gutted...how would we know that? So thinking 25K worth of fixes is what we thought...not 46K