what's it worth?
Hello all. Here's the situation. There is a house we are looking at that has had the demolition work done to it. I guess the rehabbers ran out of money. It was listed a couple of years ago for $60K about. Someone bought it, took off a whole bunch of rotten wood and a lame addition, stripped it down to the studs inside. All the windows are boarded up and it caught my eye in the real estate listings when I was surfing them the other day. It is listed for $75K. I looked it up on the county tax assessor's site and it's appraised at $41K. I was thinking it is a definate advantage to buy an old house (built in 1940, I know, not old like some of you guys, but plenty old for me) that has had all of the ick stripped away. It's all gone from the property and the inside looks pretty clean, too. Just stripped. Is this an advantage if buying an old house that would have needed work (obviously) anyway? thanks for any advice.