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View Poll Results: What to do?
Buy for under $650K? 0 0%
Buy for under $725K? 0 0%
Buy for list price $785K? 0 0%
Pass (Run Away! It's a massive money pit!) 2 100.00%
Voters: 2. You may not vote on this poll

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Old 01-17-2021, 07:55 PM
 
2 posts, read 2,149 times
Reputation: 10

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Hi all, my realtor showed me a HUD house that needs a lot of work. Address is: 17139 Leal Ave Cerritos, CA 90703

https://www.redfin.com/CA/Cerritos/1...3/home/7459931

I was going in expecting to do all new plumbing, electrical, HVAC, kitchen with appliances, bathrooms, windows & doors, flooring, paint interior & exterior, and landscaping (backyard trees are dangerous). BUT....

I took my contractor with me who also has a stand-alone foundation company. He said this house has significant foundation problems. About $30K-$50K+ in repairs needed.

Also, the house a lot of wood rot that is about $10K-15K to remedy.

Plus it looks like it has a sewer line issue that can be $5K if minor but can go $25K+ if major but won't know until he can do a full inspection.

Roof is passable save a few minor leaks.

Another issue is that there are 3 registered sex offenders with 1 block:
https://www.city-data.com/so/so-Cerr...alifornia.html

Asking price for this house is $785K.

Is anyone experienced enough to know how much HUD will credit me if anything once in escrow? I heard they won't do anything for these types of problems but I'm hoping to hear more thoughts from experienced HUD Home buyers.
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Old 01-17-2021, 08:28 PM
 
148 posts, read 136,964 times
Reputation: 149
Might be better on the real estate forum?
Also, there are vagrants infesting the Coyote Creek/91/Orangethorpe area just a block or two away.
Grafitti is also becoming more visible.
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Old 01-17-2021, 09:00 PM
 
158 posts, read 159,381 times
Reputation: 277
Why would you pay $700K for a house in Cerritos?
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Old 01-17-2021, 09:16 PM
 
2 posts, read 2,149 times
Reputation: 10
Quote:
Originally Posted by American_Renaissance View Post
Might be better on the real estate forum?
Also, there are vagrants infesting the Coyote Creek/91/Orangethorpe area just a block or two away.
Grafitti is also becoming more visible.
Ah, I'm new here. I didn't realize there was a real estate forum. Good info in Coyote Creek!
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Old 01-18-2021, 10:13 PM
 
Location: Sandy Eggo's North County
10,292 posts, read 6,813,150 times
Reputation: 16839
Almost looks like the home has an addition coming off the dining area. Permitted?

I'd offer them the "1994" price, of $152,000.

Which means, I wouldn't want it.

Impressed with the school ratings though.
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