Fixer-Upper Sellers Unrealistic on Price?

Sure, the sellers know potential buyers must be willing to invest much-needed TLC in their home after the purchase. The tough part is getting them to price properly based on the true cost of necessary fixes.

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  1. I’ve found more of this in Houston. There are foreclosures selling for the same price as homes that do not need repair. These homes are not fix a little here and fix a little there, they are complete guts that need to be taken down to the studs…This is why a short-sale is preferable to foreclosure, we won’t have as many of these properties priced at retail that need 40k in renovations.

  2. I agree Justin’s comment, a short-sale is preferable to foreclosure. 🙂 Unfortunately, this happens — The tough part is getting them to price properly based on the true cost of necessary fixes. 🙁

  3. Of course the only issue is that short sale can take up to 1 year and half to close, and the bank can always (and they do) till the end come up with much higher price that the offer you made.
    you can waste a lot of time with short sale and you will be not sure that you have a deal for months. Of course if you lucky and close a quick short sale at a good price then it’s great! but it’s not easy.