Currently renting a single family home in Northern Virginia for 1.25 years now. The landlord who is also a realtor purchased the home with the intention of flipping before renting out to us and now he would like to sell it. He gave the option of selling to us, the tenant and would apply what he would pay a realtor to pay our closing costs +/- 11K.
Online estimates are around $460 while he wants $480 with 11K applied to the closing. The landlord purchased the house 9/16 for $395K and subsequently began renting to us.
Comps are around $440 - $460
He did do some updates, to what degree of correctness that's debatable. He is wanting to sell for 479K and put in new stainless steel dishwasher and refrigerator, existing is perfectly fine. Put a new roof on and new HVAC since it's not R134. There are a couple other issues that need to be fixed such as a cracked hearth stone rendering the fireplace useless, some issues with the windows, exterior and landscaping.
One caveat is my father is a general contractor so we were thinking of seeing what his as is offer is.
To speak to the convenience factor there are two other issues. First, we have a 120lb dog and a 10mo old baby, we have a yard that the dog can run in 1-ish acre and also be moving in January is kinda hell. So there are a few factors in our favor.
Submitted December 14, 2017 at 12:10AM by silentsvn http://ift.tt/2z90ug4 RealEstate
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