Posted by Corey (ND) on February 10, 2000 at 22:36:09:
I have done 2. I swore after the first one that I would never do it again. But just incase I wasn’t quite sure I tried it again. NOW I know why I didn’t want to do it again. First you would have to get the house for $0 to come out ahead. Then do your research, what are comps in the area? You are looking at about $60K for total costs with a lot (at least in this area). The thing that I like is that I have an good old fashion house with all of the new ammenities. Any more questions drop me an e-mail.
I have a ranch house about 1,200 sq ft, unfortunately its brick with a full basement. The land/zoning allow more than SFH, but the house is well built in excellent condition and it would be a shame to demo.
Any ideas? any experience, any cost figures? Thanks in advance.
David
Posted by NJDave on February 11, 2000 at 11:55:59:
Seashore community required houses be built over highwater mark. An owner of a small home decided to raise (not raze) the house, and place it on pilings at the required height.
Long story short, a mover picked up the house, and while moving it to another spot on the property (making room for the pilings that were to be driven)
dropped it breaking it into two, sagging halves.
The mover had no insurance, and refused to cure the problem. Ended up filing BNK.
The house stayed where it dropped. The owners allowed the mortgage loan to default, and foreclose. The mortgagee ended up selling the house and property for $5,000, plus back taxes of about $10,000.