Property Q&A in Nashville>Question Details

Kaitlyn, Home Buyer in 37203

Does anyone know the condition of this house?

Asked by Kaitlyn, 37203 Fri Jan 30, 2009

This looks like a beautiful home, but I'm wondering if there's not something wrong with it--why wouldn't the previous owners go ahead with the renovation? Any information on this property concerning it's condition, location, etc, would be much appreciated! Thanks in advance!
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Hey Kaitlyn, I know - I think it's a real shame, too. Doesn't seem like somebody should be able to get away with that. Maybe there is more to the story than anyone is telling? Who knows. Anyway, I looked up the tax records and he bought the place for just under $34K, so if he is selling it for $55K and that is taking a loss (probably realtor commissions, but that's just a guess), then maybe around $20K would fix it all? Again, that's just a guess - if you'd like to go over there and take a look, it would be easier to see what's up with it and how much it would approximately cost to fix it.

Here's a guesstimate on my part (again!) - I am just guessing that maybe he gave the guy half to start, and $40K sounds like around the right number to fix up a place of that size if it's in shambles... so maybe $40K (to have it done well and right) would be the closest guess.

Hope that helps ---- Have a great weekend!
0 votes Thank Flag Link Fri Jan 30, 2009

First of all, thank you! That's great information, and a real shame that someone robbed the guy, yuck!

Any idea on how much the project would cost? I am assuming it needs appliances, flooring, a kitchen, but really have nothing to base this on. More information would be great!
0 votes Thank Flag Link Fri Jan 30, 2009
I called the listing agent and she said that a couple of things happened: 1. the owner apparently paid a guy to do the work to the house and the guy took off with the money and 2. the owner works on tax returns and it is his busy season. Apparently he is already losing money at this $55K price(if you add in the money that he was robbed of), but if he doesn't get his asking price he is going to go ahead and finish the project. Hope that helps!
0 votes Thank Flag Link Fri Jan 30, 2009
I can't find out much more than what you have, the listing doesn't give a lot of information. Could be that they ran out of funds to complete the project, it wouldn't be the first time a flipper has done that. If you would like to contact me I would be glad to send you the listing or set up a time for us to go look at it, that might be the best way to find out more about it.
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0 votes Thank Flag Link Fri Jan 30, 2009
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