Home Forums Hunting & Shooting Hunter's Campfire What's wrong with this house?

We're sort of looking for an acreage for a retirement home. We want to stay in Idaho but my wife ran across this one in SW WA. 2300 sq ft, almost 10 acres, lots of outbuildings...but only $90k??? Someone has started a really ugly kitchen remodel. A friend of my wife was in it and said it had been fumigated for bats and there were dead ones all over but that isn't worth a $100k drop in value. Something's wrong here.

LOW PRICED HOUSE

pay for a home inspection. that should turn up alot of issues.

It's owned by the bank. They want to move it. Forclosures are noted for damage and theft by those foreclosed on or by squatters and thieves. Have you looked at the interior photos? There aren't many, but the kitchen looks like chit. That place is a project and who knows it may have structural or foundation issues.

102 years old..?

Built in I think 1910. Base board heat. Probably elec. Yes to the remarks about a home inspection.

bank foreclosures are sold at a discount but it's rare for one to drop that much in price.

sometimes forclosed homes take a lot of work but you can still come out ahead. ours was listed for 259 and after the bank took over we offered $106,000 and got it. it did require work but nothing major (5k in repairs) often times banks start to get desperate and just want to cut there loss.
just make sure it is a clean sale and there are no tax leans that will come back and bite you.

First thing I would assume is rubble foundation and rotten roof with water damage.

Can't know for sure until you put your head into it...

Buying old houses takes some discipline.. What looks real cool on the outside might be hiding some real problems on the inside.

I'd buy it for 90 grand free and clear. Then I'd tear it down and build what I wanted on the ten acres.

My daughter has been trying to buy a house for two years. She ha made full price offers and at least four bank owned homes but he banks never respond to the offers. I can understand if she was cutting the asking price but full priced offers?

Federal law says a bank cannot be in he reality business. They foreclose on a property hey have o have it sold and off their books in twelve months. I understand he Feds in these times have relaxed the enforcement but to just ignore a full priced offer seems strange to me.

Sounds like you know what the soil engineering and perc tests say..

Any info on the well, too?

Dumbass..

banks and credit unions have extended the time frame they can hold OREO property.

Maybe it's not the house but the neighbors next door.

It's got to be something major. Check for asbestos, lead plumbing, aluminum wiring...

A thorough home inspection of the house AND the property could be money well spent. If everything is on the up and up, it could be someone who just wants to be rid of the place regardless of the price.

Good luck!

Rancho_Loco - Hey dumbass I said free and clear! Learn how to read.

It looks haunted.

Banks and credit unions did that? How about the Feds did it. That I could believe.

True Scott. Didn't word that right. The gov. extended the time frame that banks and credit unions can hold foreclosed property before selling it.

Figured that is what you were saying. Any idea how long they can hold one now?

That property is very near some pretty amazing country...

JFC.. Free and clear ownership will over ride any potential problems with soils and engineering?

news to me.