Was this a foreclosed home Deb? Where is this?
Yes...it's already owned by the bank, but not on the market yet.
I posted the "good" pictures....the "bad" are really gross. It's in E TN.
My job on this one, was to go in, inspect the property and take lots of pictures - there were 62 on this one. Then do a report that's about 7-10 pages which among other stuff, includes for detailed comparison - 3 current lists and 3 solds from the last 180 days that match up based on several specific criteria, details of any damage, costs to ready for market and costs to bring the property to a "similar to similar" state with the comps, prices to sell within certain time frames, upload all pictures with descriptions.
I should have taken some more, but it was totally dark in a couple of places in the basement, and I don't go into dark rooms that I have no idea what might be in there.
I stick my arm in as far as I can, and take a pic, then lighten/contrast on my computer. And I wasn't about to touch anything in this house if I could help it.....it was full of spiders - lots of webs with egg sacs
, fleas, and other flying critters. The basement was open, for all I know there were rodents and snakes in there too.
Normally I would open kitchen cabs, refrigerator to check in them, to see quality, condition, what's left in them - I was afraid to open the fridge (I've done that before when they were full, and electricity has been off for some time
and the kitchen cabinets were broken and covered in mildew. In this case, I put down to clean thoroughly in order to sell, and $10,000 for a new kitchen - which would include cabinets, sink, faucet, floor, countertops, and appliances - which would all be needed to compare with comparable properties within a half mile.
When it's not going to be my listing....usually when I do an inspection, the house has already had a trashout done, and cleaning is either started or already done. It makes it easier to see the damage, evaluate what it will take to fix or if the "fix" needs to be done in order to sell.
It's very unusual to see a house in this price bracket...and the house's location....in this type of condition. This one needs new everything....siding, roof, etc., kit and bathroom floors, lots of drywall patching, 2 new bathrooms, new kitchen, heat/air, what few light fixtures were left were broken, interior/exterior doors, hardwood may be able to be refinished, but will need some patching, whole interior painted, replace the decks and put in minimal landscaping. The driveway is about 30 feet short of the garage!
It will need the plumbing and electrical inspected at the very least.
I estimated a bit over $53K, for materials and a combination of professional contractors and sweat equity. Depending on what the bank decides to pay to get it ready to market - which may reduce some of the rehabbing costs - and what the bank decides to not only sell it for, but what amount they actually end up accepting - a buyer could end up with a property somewhere between $20-30,000 over costs.