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related linksRead more about buying a house
FIND YOUR DREAM HOME OR APARTMENT
must-see on msn
I'm willing to bet my heart sight unseen but not my cash MSN. Get real!
LIKE BANKERS AND ALL SUITS- GREEDY LYING BASTARDS (95%) ANYWAY
We bought our current house without seeing the inside. I drove by to see that the outside seemed in ok shape. It was a repo situation. My wife and I had seen several repos that had been trashed. So we figured that if it had been trashed it would take about $100,000 to put it back in order. So we then figured what the market value of the house should be in decent shape, subtracted $100k and that was our offer. The bank accepted our offer. We were pleasantly surprised to find that the house was not trashed. So, we made $100k just buying the house. We have made some improvements and decorating. With the market increase over the last two years and our improvements we could now sell it for about $200k over our purchase price.
This only works if you can pay cash and you don't mind doing some work on the house.
For those who think such an action is idiotic, or stupid please understand that your risk aversion does not equate to wisdom. It only means that you are not willing to be rewarded for taking a chance.
Anyone that follows advise like this is little more than a fool and has no business outside of an institution. I have read some real crap on MSN but I do believe that this just about tops it all. Do your due diligence, find out the rules and drawbacks before laying down a dime other than for transportation to and from the home sites. Some of the chocolates in the box are made of sheep turds and rabbit pellets. Things are not always what they seem or as advertised.