Buying a house in New Hyde Park with efflorescence in foundation/no proper permit for basement bathroom
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I wouldn't run as some posters suggest. If you really like the neighborhood and that is where you want to raise your family then that should be the biggest factor in your decision process and not the condition of the house. As long as the house is livable you can take care of these issues over time. Demoing a bathroom is not very expensive.
You said the house was "not updated". What are similar updated houses selling for?
We like the neighborhood, house is not updated means that kitchen and bathroom needs updating, it is listed as 3 bedroom and 1 bath but the house just has 2 bedrooms and 1 bath, 1 bedroom is converted into dining room. there are hard wood floors. Given the market condition, most of the houses have multiple offers, we had placed offer on couple of other properties where we are back ups. The house is livable condition. Updated properties are listed in $550 and up range.
Not when he's going to be doing an extensive reno on this house, which it sounds like he will need to do whether he likes it or not. The TONH will be salivating over all the unpermitted work in the house.
And I ask again - you're wanting the seller to do some of the work that needs to be done including mold remediation - which they have let go this long, and you trust them to do it right??? Why?
Remember, once you close on a house, it is YOUR house and YOUR problem, a half million dollar problem.
You really want it? I'd tell them get a permit for the bath and you'll pay $450K. They are going to have the same issues come up with the next buyer, unless they can find someone willing to do a complete gut renovation AND pay full price for the house.
Thank you, we are thinking of whether to proceed or not since we liked the neighborhood, seller's agent told us that there are couple of other offers on the house (may be a scare tactic they want to use with us). We will try negotiating the house.
Does anyone know about the bathroom or lack of permit?
Sometimes that stuff can uh, slip through the cracks if you know what I mean...
And even so, if it's not in useable condition then just have the fixtures ripped out.
That's a a Saturday morning and a six pack job.
Speak with your agent and your lawyer if you are really in love with the house.
Thank you, will speak to the agent and lawyer but everyone is telling us that it is the norm in the area.
The price is based on the listing, which has many errors and untruths. If mid 550s is your price range, this is not the house for you. If your price range is anything up to $1 million, then go for it. You have no idea what the other people who supposedly have offers on the house are really looking for. Maybe all those people can afford a half million dollar knockdown and all the taxes that will come with that - maybe you can too and you're just not saying.
$530K for a house that needs an updated kitchen and bathroom... needs the basement to be completed... needs a permit for another bathroom... has no dining room. Mind you when you complete these renovation, your taxes could increase. I don't see any benefits. What are the Pros?
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Originally Posted by MykeWhyte
$530K for a house that needs an updated kitchen and bathroom... needs the basement to be completed... needs a permit for another bathroom... has no dining room. Mind you when you complete these renovation, your taxes could increase. I don't see any benefits. What are the Pros?
It's Long Island.
This is totally normal.
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