Yesterday the investor paid our house a visit to plan exactly how to install an AC/Furnace combo and apparently was measuring the outside dimensions of the property. The realtor came along with the HVAC installer and we hid in the house but did manage to ease drop on their conversation a little from an upstairs window.
From all indications , this investor intends to pull out all the stops and turn this 1975 two story family home into a showplace which 5 years of BK13 enforced neglect ensured we would never be able to do. She is planning to remove all popcorn ceilings and is also interested in installing a basement master bath suite. We believe she will gut all bathrooms and the kitchen and remove all carpeting and turn the main level floor into hardwood and she will probably remove some walls to accomplish some of her remodeling.
So the original idea that a budget of 30K would be enough was both naive and wishful thinking on our part. Clearly painting the inside walls and replacing the carpet and adding all-SS appliances would not have sufficed to get us as much money as we'll get by selling to this individual without doing anything!
While I would never recommend following our lead, I do believe selling to an investor is the only course that makes sense in our just discharged case.
Of course, we would have preferred to clear 300k instead of 200K, but without enough money to make these required updates a reality, this is our best case scenario and it is a win-win for us after a grueling five year BK13 because we finally get to leave Colorado with a sizable little nest egg in hand !
From all indications , this investor intends to pull out all the stops and turn this 1975 two story family home into a showplace which 5 years of BK13 enforced neglect ensured we would never be able to do. She is planning to remove all popcorn ceilings and is also interested in installing a basement master bath suite. We believe she will gut all bathrooms and the kitchen and remove all carpeting and turn the main level floor into hardwood and she will probably remove some walls to accomplish some of her remodeling.
So the original idea that a budget of 30K would be enough was both naive and wishful thinking on our part. Clearly painting the inside walls and replacing the carpet and adding all-SS appliances would not have sufficed to get us as much money as we'll get by selling to this individual without doing anything!
While I would never recommend following our lead, I do believe selling to an investor is the only course that makes sense in our just discharged case.
Of course, we would have preferred to clear 300k instead of 200K, but without enough money to make these required updates a reality, this is our best case scenario and it is a win-win for us after a grueling five year BK13 because we finally get to leave Colorado with a sizable little nest egg in hand !
Bankruptcy Wizard
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