Offer #17

I can't remember if I mentioned this property in an earlier blog (my memory is starting to go). Here are the particulars:

Description: 1993, 3/2, 1200sf
Type: HUD
List Price: $72,000
Comps: $90,000

I went to look at it this past Monday from the outside only. The houses in this neighborhood are really crammed together like sardines. Matter of fact, the left side of all the houses are inaccessible because that side of the house is part of the neighbor's backyard! The house looked to be in good condition, but I did notice a few minor issues. I had a good look in the house from the windows, and it looks to be in good condition, also. Even so, I still inserted $5,000 for repairs in my final offer. The next day, I received word form my agent that its a HUD in the 10-day OOO period, and would reqiure another $1,000 cashier's check.

I'm still thinking about this property, mainly because it has a low offer price, but I'm not sure if I want to fork over another $1,000 in the hopes of getting it. If I'm going to spend more upfront money, it better be a damned good property, which this one really isn't. I may have to forgo it. I guess I could always pass it on to some other investor, but the ones I know don't want any Realtor involvment at all. I can't really understand this since the seller will be footing the Realtor's commission.