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Redfin Real Estate Forums :
San Diego :
buying an old home that needs fixing
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buying an old home that needs fixing
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openerbat
Newbie
Posts: 1
Registered: 11-10-2009
Message 1 of 5
Viewed 356 times
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hello, I've seen a home in a location I like; but the home is 20yrs old and bank owned and hence the interiors need a lot of fixing up (no appliances, needs new carpets, closets in the bedrooms need fixing, I see some patches caused by water on the carpet directly under painted up part of the roof); Also, the floorplan isnt great. Because I like the location, is it still worth pursuing? How do I figure out at a good price for the house? Thanks.
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11-10-2009 11:46 AM
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Re: buying an old home that needs fixing
[ Edited ]
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TheInvestor
Contributor
Posts: 10
Registered: 10-27-2009
Message 3 of 5
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It may or may not be a great deal. What is the market in your area like? Are there comparables within the last 3 months? Message Edited by TheInvestor on 11-11-2009 04:20 PM
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11-11-2009 04:19 PM
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Re: buying an old home that needs fixing
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VanillaBlue
Contributor
Posts: 17
Registered: 04-27-2009
Message 4 of 5
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Scroll down in the mls listing on Redfin, you can see what has sold in the area recently, compare sq ft costs, and see other houses for sale in the area. Mold damage is $$$, or foundation work, the rest is not so bad especially if you can do labor. I would never consider a property that was priced at the current market value, and all fixed up. No upside.
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11-12-2009 11:47 AM
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