Carl, I am going to purchase a house where the contractor went belly-up. It has an appraised valued of $420,000. It is on the market (to “dump”) at about $275,000.
Exterior (excluding landscaping) is complete.
The interior has;
· All drywall up and finished.
· 90% of the trim is up.
· Rough plumbing is complete with tubs set.
· Rough electrical is complete.
· Entire interior primed, but no kitchen or bathroom cabinets and no flooring or interior doors installed.
Could you give me a ballpark of what the cost will be to complete this home if I performed the duties of the general contractor from this point on?
What are some of the glaring things to look for that could trip me up?
It is bank owned at this point so it will come with no liens on the property.
I truly appreciate and value your input.
Thanks,
Rick B.
Well Rick,
First, get a professional home inspection first and then obtain or prepare an estimate of building costs to complete just as if you were building a complete new home....continued.
Carl Heldmann, byoh.com