Just got this listing from my agent

Ashcan Bill · 09-06-2010, 10:20 AM

The listing states: "Home is in need of major reconstruction."

Do you have the time and know how to do all of that yourself?

If not, can you afford to put up the money to have it done?

Is the property priced so far below market to make all the work worth while, or is it a potential money pit?

Can you get a loan on it in it's current condition (assuming you plan to finance it)?

If you're confident on the above points, then I'd go take a look and do some serious estimating. Wouldn't hurt to take along a home inspector or good contractor as well. Might cost you a few bucks but it could save you from making a costly mistake.

09-06-2010, 10:20 AM	#3
Ashcan Bill Ol' Dude Join Date: Oct 2008 First Name: Bill Location: Henderson, NV Posts: 1,903 Trading: (6)	Re: Just got this listing from my agent The listing states: "Home is in need of major reconstruction." Do you have the time and know how to do all of that yourself? If not, can you afford to put up the money to have it done? Is the property priced so far below market to make all the work worth while, or is it a potential money pit? Can you get a loan on it in it's current condition (assuming you plan to finance it)? If you're confident on the above points, then I'd go take a look and do some serious estimating. Wouldn't hurt to take along a home inspector or good contractor as well. Might cost you a few bucks but it could save you from making a costly mistake.