Kayce CS, thanks for your comment. Was this a property that you had
personal knowledge of? It is to bad about the structural issues if that is
the case. All of my clients have home inspections and this would not be the
first deal that a client of mine got out of a contract due to a diligent
inspector doing his homework and finding issues that could be detrimental
to the property value. With HUD foreclosures you have to get in and act
fast and take a risk until the inspection is in.
Believe me; a bit of, "sweat equity and some money", will not work for this
house! It has major foundation issues and - according to two contractors -
will take approximately $90,000 - $100,000 to repair. The foundation was
repaired once; apparently, overcompensated and caused more problems. The
amounts listed were to repair floors, walls, ceilings, roof ... That is why
it went into foreclosure - not worth what would have become a $270,000
house.
217 Pocahontas Place Hampton, VA 23661
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