[timothyaw]

I'm contingent on two short sale homes. One home is located in Northshores in the Spinnaker subdivision; located at the northwest corner of Cheyenne and Cimmaron. I like the neighborhood, it's nice and quiet from what I can tell. Not gated, although I prefer gated it's by no means a deal breaker. I love the house as well. We're in the - negotiator has approved the price and sent off to investors - stage of the short sale process. So it's coming down to the end.

The second home is located in Montaire (Summerlin 89134). Gated community, located on TPC Summerlin Golf Course. Location, Location, Location is big with this house. Of course I like the house as well. BUT, big but; the previous buyers walked just before closing because a pipe bust in the upstairs master bedroom bathroom and flooded the house.

Insurance is paying for all the repairs. Being OCD (liking near perfection lol) this is a stretch for me. But it is a very nice home in a very nice location. I will be provided the number of the general contractor doing the job so that I can ask them questions. Of course there are a lot of questions, mold remediation (if any, they have torn out sheet rock), etc etc. I have a link to the pictures that were taken inside about a couple of weeks ago. I'm not a handy man type of man BTW. Opinions? Thank you for all responses. Here is the link
House pictures by timtresa - Photobucket

Any opinions on Montaire in general would be appreciated as well.

[ScoopLV]

The contractors are going to be paid BY THE JOB. (Hanging sheetrock, texturing, painting, etc.)

So, they're going to make sure they spend as little time and money as possible to complete the job, so they keep the maximum amount from insurance.

If I couldn't do the work myself, or choose the contractors, I wouldn't bother.

Although, this would be an IDEAL time to run a central vacuum system, wire the whole house for sound, or install CAT-5e or CAT-6 next to every phone jack.

Me, I think drywall is fairly easy to do. Matching the texture is slightly harder, but no big thing. And painting is painting. But if the insurance company hires monkeys to do the work, the replacement panels are going to be as noticeable as Frankenstein's scars.

No chance they'll sell the house to you as-is (at a significantly reduced price) and let you go about fixing it? (Or having it fixed?)

[timothyaw]

ScoopLV,
No, they've already started the process. Now the previous buyers might have had a chance to pick the contractors. The only thing they said that I might be able to pick out is the flooring.

But yeah, I was thinking the same as you; they'll do the minimum to get the most money. In a situation like this, I would the VERY BEST.

[macgeek]

I'm agreeing with ScoopLV, take 10 grand off the house, Buy it "as is" and YOU do the work, YOU hire the contractors, etc

Jonathan

[olecapt]

If it is on the golf course side of Eagle Ridge go for it. We have sold a couple of houses in Montaire and consider it one of the nicer subdivision for those without large budgets.

The house does not appear to have anything more than water damage. That says they ripped everything out in a day or two. If so it is pretty safe. In a badly damaged house you get dark studs and obvious patches of mold.

A number of the remediation guys are quite good. They don't want a problem with their work. Get someone good in to inspect and make them do over anything not right. There is actually nothing more obvious than bad wall board. If they won't do it right don't buy the house. What could be simpler?

Go to Critterium Mcwilliam for an inspector. Tell them you want a good job of fixing. They will give you exactly what you need. Not cheap...but good insurance.

And a very nice neighborhood if it works out.

[ScoopLV]

Originally Posted by macgeek

I'm agreeing with ScoopLV, take 10 grand off the house, Buy it "as is" and YOU do the work, YOU hire the contractors, etc

Jonathan

I'd ask for $20K and settle for $15. Most drywall guys charge by the square foot. At least the licensed, legal ones. I've got a buddy who does that -- if anyone's interested, I'll ask him what he gets, and the going range.

[Scott456]

how much is the asking price of that property in Eagle Ridge?

[macgeek]

I have a great sheetrock guy he gets $35 a hr.

Jonathan

[timothyaw]

Thanks for all the responses and tips, I'll do my due diligence that's for sure.