Get a repair estimate and asses the after repair value of the property. All you have to do to get repair estimate is find a few contractors who will give their estimate of the work you want to get done. Get at least 3 solid estimates. In order to find out what the After Repair Value of the home will be, simply look at what price properties comparable to yours are sold in the half a mile radius in the last 3 to 6 months. If you really get you mind set on a particular home and seriously considering the purchase you can hire an appraiser. Make an offer on the property and in the contract include clause saying that if an appraisal contingent on the repairs you are planning to complete comes in at less than what you are estimated you can walk away from the deal without any penalties. Vibrational Manifestation Review When looking at houses look for what it can be, not at what it is right now. You will see properties that look a lot scarier than what they really are. Don't over spend; focus on the things that will add most value to your new home. Kitchen and bathroom updates should be the biggest part of your repair budget.
If space permits you can add a bedroom or a bathroom. Remember, our goal is to create as much equity as possible so budget for renovations that will give you the most bang for your buck.Make an offer and close the deal. One definite advantage you have working for you is the property itself. Use the short comings of the house as your negotiating ammo. At this point you have at least 3 estimates from licensed contractor and you should do home inspection. This will protect you from unpleasant surprises in the future.
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