We're looking at a house and need some opinions

[westfork]

if has flooded, ever, i would stay away. you can gamble if you want to, but you've seen the kinds of floods we've had in the past 10-20 years and the damage these floods cause is $$$. not to mention the lingering mold problem you'll be battling in that house. it might seem worth it thinking you can just gut it, slap up some new sheetrock, paint and move in... but something inside me says you'll find some bad surprises when you chip away at it.

did the previous owners leave for any particular reason? i know you said it has been through several realtors. i'm guessing the previous owners encountered overwhelming problems, jumped ship, and now the banks are passing it around?

i would keep looking.

 

[Bikerdad61]

For the money you would have to put into that, you could find one that's move in ready. Unless that place is REALLY cheap and has some land (10-15 acres) with it, I'd walk away.

 

[88GT]

Doing a cosmetic repair on that kind of damage will only create a more expensive problem later. The only way I would be happy is if it were stripped to the frame so all unseen damage can be corrected before it gets covered up with an expensive remodel. Also, the fact that it had a flood before would likely be a deal breaker for me at any price. It happened before, it could happen again. Bear in mind, many insurance policies don't include flood coverage unless you specifically ask for it. The fact that there is a flood history is likely to make future flood coverage very expensive.

I'm not sure it was flood damage from exterior sources. The wood floors looked to be in great shape. I've seen hardwood floors buckled up 8 inches from roof leaks. If there was a flood, it surely doesn't show signs of it. THe walls don't seem to have flood level lines either. Now, water collection in the lower levels (it looks like a tri?????) might have happened because the utilities get turned off when the owner quits paying them, and the owner of the lien doesn't actually get possession for months later. So there's a great risk of flooding when the sump pump can't run during that "black out" time. Quite common in bank-owned properties with below-grade levels.

As far as insurance, he can always have his insurance agent run a check of claims made agains the property before he purchases. And speaking of insurance, insurance is more expensive on vacant homes, and if the vacancy extends beyond a particular time frame (different for different insurers), they may either drop your or jack the rates up significantly--as me how I know). Just another piece of the puzzle.

 

[shooter1054]

I am in the construction industry as an interior carpenter. In my experience, you are better off gutting it down to the bare studs, rafters, and joists. When you try to save a couple of bucks by "reusing" stuff, you end up regretting it. In a remodel that is needed in this house, it looks to me like there just isn't much to save. You will also probobly have to replace not only electrical and update it to code, but you will also possibly have to look at HVAC, plumbing, insulation, exterior, roofing,etc. In the end, my first thought if you buy it, let the local fire department use it for practice. Then rebuild from the foundation up.

 

[BIGE7.62]

House

Ive been in construction for over 20yrs .You should look else where. From what I see and the knowledge I have in doing remodeling .

Just the EPA issues alone will cost over $20,000 to deal with , IE mold ,lead ,abestos (ceiling tiles).

That house is a total gut and redo,wiring ,plumbing ,windows, roofing ,drywall ,flooring,ect,ect

So unless you just have to have it or have the time and money ,look at something else.

Ruff estimation on price $70,000 ++ and HEAVY on the ++

20yrs + does not make me a know it all in the field ,but I've seen and dealt with alot

Good luck with whatever you chose to do

 

[Suprtek]

I'm not sure it was flood damage from exterior sources....

Me neither, but I was just going by what he said here:

I think it was a mix of bad roof and bad flood of 2008....

 

[88GT]

Ive been in construction for over 20yrs .You should look else where. From what I see and the knowledge I have in doing remodeling .

Just the EPA issues alone will cost over $20,000 to deal with , IE mold ,lead ,abestos (ceiling tiles).

I'm sorry. I disagree that he will be required to spend that much money on these issues because I don't believe they necessarily exist.

First, if the home was built after 1978 lead-based paint is a non-issue. And if it wasn't,

Information for Homeowners Working at Home

If you are a homeowner performing renovation, repair, or painting work in your own home, EPA's RRP rule does not cover your project. However, you have the ultimate responsibility for the safety of your family or children in your care. If you are living in a pre-1978 home and planning to do painting or repairs, please read a copy of EPA's Renovate Right: Important Lead Hazard Information for Families, Child Care Providers, and Schools (PDF) lead hazard information pamphlet (11 pp, 1.1MB). | en español (PDF) (11 pp, 2.4MB). You may also want to call the National Lead Information Center at 1-800-424-LEAD (5323) and ask for more information on how to work safely in a home with lead-based paint.

From Renovation, Repair and Painting Rule | Lead in Paint, Dust, and Soil | US EPA



Second, I think those ceiling tiles are paperboard, not asbestos. And even if they are, someone has to prove it. If he doesn't have it tests and reasonably assumes it's not, who's to say otherwise?

And third, I don't believe that the EPA regulates the clean-up of mold in the same manner that they regulate LBP. They have guidelines, but not regulations, AFAIK. Besides, unless it was tested, it could have just been mildew.

Anyway, in order to force compliance, it has to be able to be proven that there was LBP, asbestos, and/or mold. If he doesn't test....

 

[sadclownwp]

Been around construction all my life, and I got really good at doing estimates for my dads business, just from what I can see the house is only worth about 45k. Cause its gonna take you 80k or so to fix everything. And that is just what I can see, that isn't counting the 1/3 of the additional repairs you're gonna run into once you get started. Its got plenty of potential, but your almost talking about an all new inside of the house.

 

[PistolBob]

Find out how much the land is worth, then subtract the cost of removing the house...and offer that for the price. First make sure your local fire department will come over and burn it down and haul it away for you. Once that is done, regrade the property if it needs it, and then park a modular home on it. Save your money for two or three years and then build something.

 

[EnochRoot43]

Find out how much the land is worth, then subtract the cost of removing the house...and offer that for the price. First make sure your local fire department will come over and burn it down and haul it away for you. Once that is done, regrade the property if it needs it, and then park a modular home on it. Save your money for two or three years and then build something.

^^^^^This.^^^^^

And I would still only consider it if the property is large and attractive to you.

 

[Martin Draco]

I think I got an upper respiratory infection just from looking at the pictures....

The electrical MIGHT not be sooo bad (but it probably is). The panel in the pic is a Cutler Hammer CH series and the missing breakers might have been stolen. The mold isn't as much of a problem as what might have caused it. If you did eradicate the mold without repairing the cause you're wasting you're $. If you have access to view the home take a reputable contractor and get an estimate. Even if you have to pay to get a professional evaluation, it might save you from making the biggest mistake of you life. Once you get an estimate it's important to comp the area and see if you'll be in the ballpark.

 

[88GT]

Been around construction all my life, and I got really good at doing estimates for my dads business, just from what I can see the house is only worth about 45k. Cause its gonna take you 80k or so to fix everything. And that is just what I can see, that isn't counting the 1/3 of the additional repairs you're gonna run into once you get started. Its got plenty of potential, but your almost talking about an all new inside of the house.

Have you seen the home? I mean actually been IN it? How in the world can you tell how much it's worth by seeing only snapshots of the interior? Cuz I sell this stuff for a living and I can't do that. Can I borrow your crystal ball?

 

[rw02kr43]

house

Thanks for everyone's advice. I think we are going to pass on this house. It's just not worth the effort and money to dump into it. We would love to have the horse barn and the land and we liked the house from the outside and the huge deck on the back. It just isn't going to work out on this one. So, we'll keep looking. Or give up. Thanks again

Jason

 

[.40caltrucker]

Thanks for everyone's advice. I think we are going to pass on this house. It's just not worth the effort and money to dump into it. We would love to have the horse barn and the land and we liked the house from the outside and the huge deck on the back. It just isn't going to work out on this one. So, we'll keep looking. Or give up. Thanks again

Jason

Passing on this one is a very smart idea, but I definitely wouldn't give up now. If you've already been approved for a home loan, now is the best time in years to get a great deal on a home. For that matter if you like the land you should make an offer for just the land value on that one, if your up to building a new house.

 

[Indy_Guy_77]

Thanks for everyone's advice. I think we are going to pass on this house. It's just not worth the effort and money to dump into it. We would love to have the horse barn and the land and we liked the house from the outside and the huge deck on the back. It just isn't going to work out on this one. So, we'll keep looking. Or give up. Thanks again

Jason

Good call.

That barn was going to need a ton of work, too, to get it adequate for equines. Plus, horses ain't cheap, either!!


-J-

 

[rhart]

There are A LOT o foreclosure deals out there that need a lot less work. Unless its a really smoking, giveaway deal, I would keep looking. Most mold and mildew in houses can be stopped with heat and moisture control. However, its the mold that you cant see that you have to worry about. If its behind walls, you cant get to it unless you tear it ALL out.
Personally, I wouldnt recomend buying any house that needs more than about 5-15K rehab. There are just so many to choose from. I dont know what your price range is but even on the lower end you should be able to find a 100K house for 40-50 that needs 10 in rehab for example.
Good luck