Advice Needed!!


I am new to this but I think I found the right property (maybe). I think they are asking for more than the property is worth . Is it possible to negotiate a lower price on the home with HUD? If anyone has dealt with this before, please advise. I am using a Hard Money Lender and the closing date is Nov. 1st. Also, the meters for electric and gas have been removed. How do I find out how much this would cost to replace?

Any suggestion are highly appreciated!

$25,000.00 Selling price
$15,000.00 Repairs and Holding Costs
$65,000.00 ARV


Where are you? I’ve never seen anything that low. Sounds like a good deal if your repairs and holding costs are accurate. You can call an electrician about the meters or maybe the utility company.

Agreed, good deal if numbers are right. Rehab costs tend to be underestimated commonly though, if you could, list the repairs needing to be done and the prices you have associated to make sure they are accurate.


Must be in the midwest.