Home Buying in Cobbs Creek>Question Details

Mijraneb, Home Buyer in Philadelphia, PA

seller completed framing and wiring, but still have to complete Insulation, Drywall, cabinets, & appliances

Asked by Mijraneb, Philadelphia, PA Sun Apr 8, 2012

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6
If the property is expected to be sold in a good/finished condition, there is no discount there.
If the property won't be finished, you can call in your contractor and have him give you an estimate of work/materials needed to finish the property.
You can subtract that amount from the lower end (usually it is a range in pricing) of CMA results.
Often, the amount quoted by the contractor is underestimated - so you might want to subtract 25% more than the contractor's quote.

Hope this helps,

Irina Karan
CDPE - Certified Distressed Property Expert
IrinaKaran@gmail.com
Beachfront Realty, Inc.
0 votes Thank Flag Link Tue Apr 17, 2012
Minraneb, I handle situations often when the 1st investor runs low on funds + wants to Sell the triplex in AS-IS condition so..... I want to give you an honest and accurate opinion on your investment property so.... when is a good time to meet this weekend?

Thanks John Curci RE/MAX 215-757-2889
Web Reference: http://www.HomeCatch.con
0 votes Thank Flag Link Sun Apr 8, 2012
Find a good real estate agent that is willing to do a comparable market analysis. My guess is that the seller already took these unfinished projects into consideration when pricing the home.
0 votes Thank Flag Link Sun Apr 8, 2012
I would answer two questions before making an offer. First, what will it be worth when finished? Secondly, how much is it going to cost me to finish it? Be realistic and allow for cost over-runs when you figure this. Then you will have the information needed to make a sensible offer.
0 votes Thank Flag Link Sun Apr 8, 2012
By how much should I reduce my offer from their asking price?
0 votes Thank Flag Link Sun Apr 8, 2012
What is your question, what is the issue?
0 votes Thank Flag Link Sun Apr 8, 2012
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