A 2900+ square foot existing home on a full basement with 4 bedrooms, 2.5 baths in a gated community….everything that most buyers want all wrapped up into one beautiful home. After an independent, third party inspection, the final proposed purchase price for the home was $127,950. For a 2900+ square foot home… That is an amazing deal!
Let’s look at the numbers a different way; the house appraised for approximately $250,000. It’s worth $250,000 and we got it fixed and turned over for $127,950. When that customer closed and moved in, they increased their net worth by $122,050 in a 65 day time frame for banking and construction. Anyone else want that type of return on their money??
Now let’s look at the numbers from a new construction standpoint. Traditionally, you would want to build a 2900+ square foot house including well and septic for approximately $260,000, before land. Unfortunately, we would not be able to do so because of the cap on the value of the home in that area so we would have to sell the complete package with land for the $250,000.
Compared to the market a few years ago, the client would still be getting a great deal on the house as new construction but they would be paying $122,000 more than they would have to by allowing us to find the deals, no…the diamonds that are strewn all over the real estate market right now.
Are these types of deals typical for all of our clients?….. No, they aren’t but, all our clients get great deals they could not have found on their own, just by using Pennsylvania Foreclosure Professionals.
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