Is There Possibly A Deal Here?
A lady called me about a house in a low income area. Her mother is older now and going to move across town with her kids. The house is owned free and clear. The house is accessed at $25,600 and they want $25,000. It is one of the nicer houses in the neighborhood and one of the better streets in the area. A small house: 2 bedrooms, 1 bath, a little over 900sf. I am going to look at the property on saturday. what kind of offer(s) can I make, if any?
Need a lot more information before anyone can even begin to offer any advice. What are comps on similar houses in area? What do you plan on doing with the house (rent, lease/option, retail, etc.)? What condition is the house in? What does it need? Look for expensive items, like windows, roof, bathroom, kitchen, etc.
Oh...and make sure the owner of the house (which might not be the lady who called) is the one signing the paperwork, and negotiating with you...and make sure she is competent to deal with you.
Best do your homework before you go.
John