On 9/22/2017 3:43 PM, John Kuthe wrote:
> On Friday, September 22, 2017 at 12:29:32 PM UTC-5, Ed Pawlowski wrote:
>> On 9/22/2017 11:58 AM, Casa de Masa wrote:
>>> On 9/22/2017 9:28 AM, John Kuthe wrote:
>>>> On Thursday, September 21, 2017 at 12:05:49 PM UTC-5, Gary wrote:
>>>> ...
>>>>> Don't we have a "sell as it is" thing here? Owner doesn't want to
>>>>> improve anything, just sell. And buyer knows about the required
>>>>> things to fix. They pay less and fix up themselves. Is this not
>>>>> true?
>>>>>
>>>>> If a seller just want's to unload a house, there should be no
>>>>> govt requirement to fix things first as long as the problems are
>>>>> stated out front and the buyer agrees to it (and the reduced
>>>>> price)
>>>>
>>>> If the house was NOT OCCUPIED this MAY have been the case. But because
>>>> it IS occupied this house must pass an Occupancy Permit INspection
>>>> before being legally transferred to a buyer's possession, in this case
>>>> ME! And because the cheap Chinese landlord(s) just want to get out
>>>> from under this house for as much cash as they can get, we settled on
>>>> a cash as-is sale price of $108,000!
>>>>
>>>> Why is it SO HARD for folks here to understand that? The cheap Chinese
>>>> landlord(s) don't want to put any money into this house to "fix it up"
>>>> and I DO!
>>>>
>>>> In fact I just signed a roofing "repair and RESTORE" estimate for
>>>> $113,671 from Old World Roofing company here in STL who DOES restore
>>>> these old red clay tile roofs like we have a lot of here in STL!! See?
>>>>
>>>> http://oldworldroofingco.com/Home_Page.html
>>>>
>>>> John Kuthe...
>>>>
>>>
>>> OMG!!!!
>>>
>>> You put MORE into the roof than the whole house?
>>>
>>> Dude, you're underwater right NOW!
>>
>> Maybe once restored it will be worth $500,000.
>
> No, not that much. My buyer's agent ran "comps" on properties in my area of Bel Nor and NO PROPERTIES in the area came up to $500,000. Maybe $200,000ish.
>
> But it's gonna ROCK! And last! And look VERY COOL!
>
> John Kuthe...
>

If your comps are $200 K that roof puts you under water.

Think about a less pricey bid, you did get 3, right????