Well here's the good news. A new account from a buyer of a bulk portfolio from one of the big 4. They assign me a listing Excitedly I rush right out to view my new beauty, and do an occupancy check, meet locksmith, etc. I pull into the neighborhood, not bad for an urban area in Connecticut.I am optomistic.The bad- house had a fire, not a total burn down to the ground, but a section of the front is chared. Interior damage to 2nd & 3rd floor contained to 3 rooms, some smoke damage.The ugly- Still waiting for the city Fire Marshall to send me a copy of the Fire Incident Report. Ordered 7 business days ago. Need it to continue, so frustrating when you have to wait......
Tony, Thanks for your input. The bank isn't even going to do a trash out on this one. The good news is that I put it on the market on Tuesday, and have 5 offers, 2 of which are really good- so it looks like this one will be quick & painless.
Mmm....I've only had one but it was very easy, thinking back on it there were a couple of things that helped. 1) the trash out included removing the burnt drywall to expose the rafters and wall studs around the burnt area so the potential buyer could pretty much see exactly what they were getting into. 2) The county did an inspection and posted a sticker stating "No structural damage". I believe that this type property....if priced right, will appeal to many of the cash reno/flippers. I did go into multiple offers on mine so it might be easier than you think.
Jesse and Eric- thanks for feeling my pain. Still no fire report, but listed and optomistic.
George, thanks for your words of wisdom- You're right, so far the mechanicals are intact.
Congratulations! I have several fire damaged houses and they're some of the easiet because you don't have to worry about squatters, people breaking in and stealing the boilers/copper or the utilities. And usually they're priced accordingly so they sell fairly fast. And most of the time the bank collected insurance money so they're more flexible with the price.
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George, thanks for your words of wisdom- You're right, so far the mechanicals are intact.