Profile picture for mrs ryca

Uncomfortable Situation...maybe

looking at short sale tomorrow in the neighborhood that we have been renting in for 4 years.  The house is 145K and the comps are 175K.  The former tenant moved next door, has a bad temper and thinks he's is a macho kick boxer.  He is the son of the woman selling the house and so far has stripped all the lighting and appliances.  There are a few drywall repairs to be made where he punched them.  The A/C unit was put in by him and I believe was used beforehand.  Rugs in bedrooms need to be replaced.  Should I buy this house?  The previous offer fell thru as they offered 130K and the bank wanted the 145K and they couldn't come up.  It kind of freaks me out to have the son living next door and hostile.  What is he going to strip out before we close???
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March 13 2012 - Orlando
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Answers (7)

I serioulsy think I'd look elsewhere if it were me.   it sounds like the potential for the guy to stay next door and obsess over that house and bother the neighbors is pretty high.

you can never control the neighbors and you might have great neighbors now and get terrible neighbors  later but this is different.   this is a guy that damaged the house that you want, and now he lives next door and appears to have feelings about it.  doesn't sound like a person that will move on and let go.
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March 13 2012
Profile picture for the_country_hick
You already know you do not want the person who lives next door to be your next door neighbor. I would look at a different house.

Anything stripped from the house can be replaced. The neighbor will stay as long as they wish to. You can not change the worst part of that house so look elsewhere.
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March 13 2012
The expert on this should be your Realtor. They should be able to advise you on whether or not this is a good investment of your money and they should also be able to help you figure out what the repairs will run. 

They should also be able to navigate the legal waters of what can be done or cannot be done about the threat of the house being compromised while under contract to purchase.
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March 13 2012
Profile picture for sunnyview
Getting good estimates for repairs is a must. This is going to sound bad, but if your offer gets accepted I would consider taking photos of the house during escrow and possibly pricing a motion activated camera to hide on site so that if there is any damage that you can criminally go after the son.

Nasty neighbors are not fun. You need to find out if the son owns or rents the house next door and whether he has a criminal record before you buy. If he steps out of line after you after you buy, you need to be willing to play legal hardball with a restraining order to keep him away from your property (and his). Get along if you can, but make sure you are getting a good enough deal to pay you for the issues you may need to deal with repairs and otherwise.

I think it's worth an offer if you like it and the price is good. Consider talking to the son to see where he stands before you sign off on any inspection period though. Sometimes humanizing yourself as the new buyer can do wonders even with beastly people.
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March 13 2012
Profile picture for mrs ryca

on the other hand...prob need closing cost assist to keep as much savings as possible for repairs....

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March 13 2012
Profile picture for mrs ryca

Wetdawgs,

There is a 3/2 for sale in here 175K same square footage but pristine.  But I do know that another bank owned is selling for 140's and is under contract and may be slightly larger.  Another 3/2 sold behind me for 140 and was in rough shape.  Yes, you are right usual...we need to add up the cost of new appliances, rugs, possible a/c (5k easy).  We are going USDA and were going to offer full price and ask for closing cost assistance.  We don't need it but they don't know that.  Any advice on how to better proceed would be appreciated...May offer 140 and see what happens.  We had neighbors from hell for 15 yrs in our old home...tires and cars all over the place, pit bulls, and we had renovated a beautiful 100 yr old farm house.  we have 7500 savings and 12K in 401K and can tap 6K of that if we need too....not planning on it though

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March 13 2012
Profile picture for wetdawgs
Comps - are those true comps (by condition) or are they in okay condition.   You need to tally the repairs and see if the money is in your budget, and if you are willing to live with someone you perceive to be an unpleasant neighbor. 
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March 13 2012
 
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