John, Home Buyer in 38310

Where do we start getting estimates for a fixer upper property we are considering buying to live in?

Asked by John, 38310 Wed Jul 22, 2009

We are looking at a stone house that is described as a 'handyman special' with a long vertical crack that runs through several of the stones in the back of the house. The house needs a new roof, windows, wiring and quite possibly plumbing repairs, as it has sat vacant for at least a year. That is only what we can see, and who knows the condition of the roofing studs underneath, along with other unseen issues. The interior of the house is charming, never have been the victim of a bad 'remuddling' job as is so common in other houses we have looked at. The owner says to make an offer. How would we know how much to offer, considering there is no way to see the problems which may be underneath, which we wouldn't find out about until the contractor uncovers them?

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4
Tim Crane, Agent, Germantown, TN
Tue Jan 15, 2013
I would suggest that if you make any offers on this property, to make them contingent upon your approval of a home inspection. Then get a reputable home inspector and see what he finds. if the fixing up is not too much for you, then proceed to close the deal. If it is too much, then you can decline the contract tat that point and you would have lost nothing but a little time and your home inspectors fee, which is a lot cheaper than finding a serious structural problem after you have closed on the house.

Good Luck with whatever you decide.

Tim Crane
731-607-0118
0 votes
Christy Hunt, , Savannah, TN
Tue Jan 15, 2013
Ask who built the house? I think it is possible in the house you are looking at that the owner built the house in increments to avoid having a payment. In that case the house may be fine other than minor repairs. Research the contractor that built the house.
0 votes
Tim Crane, Agent, Germantown, TN
Mon Sep 10, 2012
There are many contractors out there to choose from. Make sure that you choose a reputable one that has references.

Thanks and Good Luck

Tim Crane
731-607-0118

http://str8loball.com
0 votes
Marilyn Bell, Agent, Calabasas, CA
Wed Jul 22, 2009
Have some contractors come out and inspect it and bid on the work. Many will do this for free. You also should include an inspection contingency if you decide to make an offer. A home inspection is usually around $300 (in my area, but probably similar where you are) but will go from basement/crawl space/slab up to the roof. A good inspector will take about half the day to inspect everything and then give you a report complete with pictures of any problems discovered - and possibly what it would entail to fix.
0 votes
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