Need some real estate advice. What should I do here?

[cdb400]

See if they will Lease to Own.

 

[yardboss1]

The house needs a lot of work though. Rotten wood, sinking foundation in the back, kitchen needs to be redone, bathroom needs to be redone, needs a new septic system, and lots of smaller stuff.

Why hasn't this stuff already been addressed if you are a renter ?
In Warner Robins a tenet will call building code enforcement fast.

 

[Fatal_Bert]

No way. $1,200 a month is way cheaper than any rent or mortgage. Which is why I'm really leaning towards signing another lease. I have no problem paying the rent and continuing to grow my savings. Although I don't know anything about real estate I feel like this is probably the top of the market and a bad time to buy.

I just can't imagine paying $1200 a month rent.

I don't think now is the best time to buy either, compared to the past 10 years it's probably the worst time to buy.

But it might also be your last chance to buy and not be a renter for the next decade. Not sure this market is gonna crash like 08. There's a housing shortage, it's a totally different thing this time. When has the prices ever dropped on a necessity when there is a shortage? And houses ain't exactly something they're gonna restock overnight.

Buy that bitch, and rent out a room if you have too.

 

[rumrunner55]

Foundation issues alone would be the No go, cause it’s not just the foundation it’s everything resting on the foundation that has to be repaired/adjusted as well…hidden issues

 

[Realtor]

Feel free to call me for free advice
678 800 9883
Cheers

 

[mfoster]

Can I get a mortgage for a house that needs a lot of work and then include the cost of the repairs in the loan?

I would get it appraised and also have the repairs appraised and subtract if you gonna buy.i would never give more than it’s worth.

 

[NWSharpshooter]

Sounds like I need to contact my rental company and find out if it's an option to buy the house. They have given me several different answers over the last few years but if they would be willing to sell I need to know how much they would want. And living in a fifth wheel isn't an option. I have too much crap to store.



No way. $1,200 a month is way cheaper than any rent or mortgage. Which is why I'm really leaning towards signing another lease. I have no problem paying the rent and continuing to grow my savings. Although I don't know anything about real estate I feel like this is probably the top of the market and a bad time to buy.

My mortgage payment is 1212 with escrow. My house in dawsonville was 1400ish financing 250k and escrow.

 

[roundhouse]

Can I get a mortgage for a house that needs a lot of work and then include the cost of the repairs in the loan?

Best thing to do in that situation is hide the stuff that needs repairs when the appraiser is there .

We bought a hoise years ago that needed major structural repairs , half the house was sinking and half wasn’t , so there were lots of cracks in the exterior walls , some cracks large enough to see daylight through

We relocated the trim and covered the cracks before the appraiser arrived .

The appraise isn’t an inspector
They are not going to crawl under the hoise or in the attic

If you like the house and the neighborhood and
The price is reasonable , I’d look into buying it
But I have a feeling the owners are going to want a lot more than you are willing to pay for it .
But the only way to find out is ask

 

[Nuke And Juke]

See if they will Lease to Own.

Lease to own is a scam. Please do not do this

Sent from my Pixel 6 Pro using Tapatalk

 

[Bypass]

With the current interest rates at 5+ percent I'd hold off on doing anything at the moment. I looked at a 379000 dollar house yesterday and was gonna buy it until I found out at 5 percent with taxes and insurance it'd run me 2600+ a month. Over 30 years over 700000 dollars.