Video: Good deal or major problems?

[Dan Faith]

1960s stucco home....good deal or stay away from? thanks

[Lon Henderson]

Dude! There is no way to answer your question from that video. Have your agent do a market analysis. If that is satisfactory, then get it under contract and hire a home inspector to evaluate the condition.

Good luck

[Dub Smith]

Like Lon said, your best course of action is to get a Home Inspection if Fannie Mae will allow you to before going under contract. Judging from the video in the basement and the shot of the ceiling, you may have had previous water damage which brings into focus possible concealed mold issues. In an older structure like that, your major concern is the condition and possibly updating old systems like HVAC and Electrical. With all the trees in the video, is the septic public or private. If it is private, you would want a scope done on the gray water systems. Lots of questions that can only be answered through a thorough Home Inspection.;)

[Darrel Hood]

On occasion I do free home inspections if they will help a legitimate charity. In order to answer your question I need the inspection fee, travel expenses, lodging & meals, and a fee for travel time. PM me to get the agreement and schedule the inspection.

[Dan Faith]

Like Lon said, your best course of action is to get a Home Inspection if Fannie Mae will allow you to before going under contract. Judging from the video in the basement and the shot of the ceiling, you may have had previous water damage which brings into focus possible concealed mold issues. In an older structure like that, your major concern is the condition and possibly updating old systems like HVAC and Electrical. With all the trees in the video, is the septic public or private. If it is private, you would want a scope done on the gray water systems. Lots of questions that can only be answered through a thorough Home Inspection.;)


Thanks. The shot in the basement I think was from where the copper was stolen from the property. The home is about 2,500 sq ft. So what would the approx costs be to make repairs if the entire home needed to be treated for mold?

Pics are below. Thank you.

Note: What is going on in the third pic--i.e. the space between the wall and ceiling? Is this algae, acid rain, or mold (i.e. green/black)? The stucco is solid as a rock. Feels like cement. :confused:


http://www.imageurlhost.com/images/obkbn0zy6nbvi2liq2j.jpeg
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[Lon Henderson]

Even though I like the business, I am not a fan of pre-contract inspections. Earlier this year, I did one for a nervous buyer, and about ten minutes after I finished the inspection, the buyer's agent found out that the house had gone under contract with another buyer while we were there.
I cashed the poor guy's check and did another inspection for him on his next home, but he had learned his lesson. Get the property under contract first, then spend the money for the inspection. Some REO's are strictly as-is without a termination clause for the inspection. It's great if there is time to do an inspection prior to contracting, but around here the competition is so intense, that while some buyer is having an inspection done, six others are submitting offers.

[Raymond Wand]

I noted major concern with the lack of fall through protection with the railings of the balconies.

[Darrel Hood]

Dan,
Please, walk away from this deal so you will cease attempting to solicit a free inspection.:(

[Ken Rowe]

At a list price of $44,900 I would suspect tearing it down and building new would be the best option.

[Garry Sorrells]

Dan,
I can appreciate your concern about getting in over your head I a purchase of a potential money pit. Free advice on costs and evaluations of specific items may be of equivalent value. We do have one or two persons that seem to have a crystal ball or a psychic connection. But in your situation, as has been stated, you need someone onsite to inspect and evaluate the property. The video is just not good enough (clarity and length) to do any serious evaluation. With any house just about every aspect can be a problem to some degree.

If you are willing to spend the money, take an inspector/contractor with you to view the property. Take your time and have it closely inspected. After reviewing the findings and projection the costs you will be able to make an intelligent offer that has a clause for termination of contract after another inspection of the property. This will give you the opportunity to negotiate your first contract offer. If you are not willing to spend the money now, how do you think you will feel later when you have to spend more money on the project. You are gambling and there is risk. The trick is to minimize the risk and exposure.

Mold remediation costs, call a local company and talk to them about potential costs.

[Billy Stephens]

- I would suspect tearing it down and building new would be the best option.
Or.....

[Dan Faith]

Or.....

Yessiree budded!