What Offer Makes This A Deal?
Details:
Property located in Texas
Approximately 1.0 acre
Built In 1992
Waterfront property
Double-wide mobile home
Single story
Central air conditioning
Fireplace
Double-wide mobile home is 1792 sqft
Deck 80 sqft
Deck 48 sqft
Storage Building 120 sqft
1992
3 total bedrooms
2 total full baths
Living areas: 2
breakfast area/room
family room w/ fireplace
Carpet
Tile flooring
Vinyl flooring
Central air conditioning
Central heat
Senior Community
Composition roof
Shingle roof
Partially fenced
Electric service available
Septic sewer system
Sold "as is"
Estimated annual taxes: $1715
Current Tax appraisal is $77,495
Listing price is $66,000
Yard needs TLC, but will look nice after cleanup. Roof is original and needs to be replaced. Inside is in 'Good' to 'Great 'condition. Properity is located in a 'Good' mobile home and stick built subdivision. AC looks to be in good working order. Foundation sound. Overall exteror is good.
Story I got from agent is this is the wife's house before they got married and the moved into his house and want to get rid of this one. She said that the listing price of 66K is the note payoff, but I don't know how valid that is. Properity has been on the market 12 days.
This is my First possible deal, and I have been looking for over a year. I will be going on a week long vacation on Wednesday and I need your help.
I want to make an offer on this tomorrow, but I don't know what to start at. I don't want to piss them off and end all the relationship, but I don't want to pay too much either.
For reference, 1 acre with all the needed improvements for a DWMH is worth 30-35K in this area.
Please Throw out your guesses as to what this place will go for!!
BTW, I will be living in this house (or another)for 3 years until I pay it off and move into a different one. I will be renting it out right after I get house #2.
Thanks
Q
Have your realtor pull the "sold comps" on the property. Sounds decent if the tax assessed value is close to FMV, but they are often very far off.
Seller is upsidedown with the listing price = to loan payoff.
I'm looking for a new deal.
Q
[ Edited by Qutec on Date 07/01/2003 ]