Buying a disaster of a house

I thought that purchasing property in Jacksonville would be a lucrative investment.

  • I found a house in a neighborhood that seemed to be up-and-coming.

While the residence was in need of a great deal of renovation, I saw the potential. Despite a home inspection that assured me the roof, electrical, plumbing and heating/cooling systems were all in decent shape, I quickly discovered an alarming list of problems. There had definitely been a severe leak in the roof at one time that caused extensive water damage. The seller has camouflaged the issues with paint, beadboard and all sorts of creativity. When I had a licensed contractor take an in-depth look at the house to provide an estimate, he uncovered structural problems. The ductwork was not designed to properly supply a house of that size. The inner workings of the air conditioner were overrun with mold. There was no insulation in the walls, soggy drywall and outlets with no power. The porch was in danger of collapse and most of the windows were painted shut yet leaked air. The renovations necessary to make the house liveable were beyond my budget. The property needed to be taken down to the bare studs. None of the appliances were salvageable. If I wanted to list the house through conventional methods, I would have been looking to con some unsuspecting buyer into the same disaster as I faced. I was unwilling to be dishonest. The only viable solution was to seek out a cash buyer. Thankfully, there are several reputable cash home buyers in the Jacksonville area. I was able to be completely upfront about the condition of the home and still receive a reasonable offer. I was delighted to get out from under the responsibility of the property and walk away with cash in hand.
sell property with code violations