No. of Recommendations: 0
It is a big decision and unfortunately it is hard to make an informed 'call' with only limited info.

So, for what's it's worth...

The fact that the furnace is out makes me nervous. Obviously the house in unoccupied. Is the owner so strapped that he can't pay for a furnace repair? Also, I am thinking (hopeing) you are down south some what because if not then the plumbing may be damaged without heat in the house during the winter. Who is paying to fix the furnace? (owner without cash and looking to get it fixed as cheaply as possible?)

Obviously, it is great that the neighbors houses are higher in value, but with only ~49K seperating this house from next and there being already at least 5-8K in repairs, the 'gap' may not be as big as it seems.

Bottom line, it sounds like you have a 44-41K bargin less any additional cost of bringing this house up to the neighbors.

Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.