house up for bid - Posted by Jeff

Posted by Jeff on February 23, 2002 at 23:06:35:

Thanks for the input CR!

house up for bid - Posted by Jeff

Posted by Jeff on February 23, 2002 at 14:38:34:

I’m new at this (yes a newbie)and I found a house yesterday through a real estate agent that is not yet listed but will be and needs mostly cosmetic repair. The deal is that it belongs to an elderly couple who could no longer care for themselves or their home and have been moved to a “home”. The court is taking bids and the house has been appraised as is at $210,000. The agent I met with says that the court will accept bids no lower than 10% from the appraised price and that it has to be listed for 3 weeks. I’m thinking that after remodeling the bathroom and the kitchen the only other things needed are paint and flooring. I think this is a pretty good deal as the area is desireable and the house could sell around 250,000 when done. I am located in California and need to know if anyone has come across something like this before through a court and what I need to look for or ask the agent about before I let her have the $1000 good neighbor dough. Any suggestions would be appreciated.

Re: house up for bid - Posted by Colin Roarty

Posted by Colin Roarty on February 23, 2002 at 16:57:08:

Make sure you look throughout the house. Little fixer-uppers are great. But pay lots of attention to not so easy problems the house may have such as floor plans that make rooms not desireably accessible. Think to yourself if you would live in the home yourself and perhaps get a few opinions from some friends or relatives.