Selling a home "As Is"

[RCW]

My Mother-in-Law passed a few weeks ago.

We'll have to go through surrogate court, but the real estate will be sold as is, where is....the house pretty much looks the same as I remember it 37 years ago when I started dating her daughter. It was really "dated" then...

It's a fixer-upper for sure....

I've followed this thread with interest, but I've assumed that in this context the price will be much different than average home sales, given it's condition.

The area's/neighborhood market is pretty good, which may help. If I could get within 75% of Assessed Value, I'd be happy.

Realistically, 50%+/- is the ballpark.

 

[freddubois]

Why would a guy who has deep pockets buy an old house and fix it when he can get a new or great house. Unless he needs that exact spot anyway.

 

[motionclone]

Why would a guy who has deep pockets buy an old house and fix it when he can get a new or great house. Unless he needs that exact spot anyway.

to build equity for future
to build equity then flip for profit

 

[shootem604]

The best land sometimes has some of the worst old buildings on it. Mine had a run down old butcher shop of horrors...

 

[D2Cat]

I know a couple of folks who buy such properties, fix them up nicely, live there at least 2 years, then sell. They then owe zero capital gains tax. Take the funds and do it again. You just have to like moving!! But it allows for a handsome profit.

 

[Muzzy]

I know a couple of folks who buy such properties, fix them up nicely, live there at least 2 years, then sell. They then own zero capital gains tax. Take the funds and do it again. You just have to like moving!! But it allows for a handsome profit.

Have some buddies do the same thing, live out of Rubber Maid Containers, build, sell, move, over & over again. Not my thing..

 

[freddubois]

to build equity for future
to build equity then flip for profit

Oh yeah, the business side. Thanks