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From: Matthew Campbell
SO I am looking at this also..
Is anyone doing this and can suggest how they do it?
Old junker house that needs lipstick and some stockings...
Get an extended settlement or clause in the contract that allows for improvements during the settlement period...
When time comes for settlement obtain a valuation on CURRENT VALUE as opposed to purchase price..
Perceived problems...
How to get the vendor to agree to this?
Legal implications eg "What if I make an error and run out of money or can't get finance and Mr. Vendor has a half finished house?"
Insurance?
How to estimate renovation PERIOD and costs?
Can anyone else suggest OTHER problems encountered?
Excuse my ignorance as an IP newbie, I'm just trying to LEARN
Thanks in advance
Matthew
SO I am looking at this also..
Is anyone doing this and can suggest how they do it?
Old junker house that needs lipstick and some stockings...
Get an extended settlement or clause in the contract that allows for improvements during the settlement period...
When time comes for settlement obtain a valuation on CURRENT VALUE as opposed to purchase price..
Perceived problems...
How to get the vendor to agree to this?
Legal implications eg "What if I make an error and run out of money or can't get finance and Mr. Vendor has a half finished house?"
Insurance?
How to estimate renovation PERIOD and costs?
Can anyone else suggest OTHER problems encountered?
Excuse my ignorance as an IP newbie, I'm just trying to LEARN
Thanks in advance
Matthew
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