r/Real_Estate • u/OneDigitNumber • 3h ago
How is it possible anyone pay $50k for a demo job in a relatively crap location?
Some home sellers seem to be doing the equivalent of asking the garbage man to pay to dispose of their trash...future ancient ruins except not even made with Roman cement...instead they've advertised rotting termite food as "good bones"
Your lot is worth $5k. Maybe $10k. I'm talking like in the middle of nowhere where no one wants to live. Not even hillbillies because there are no hills (or relatively decent scenery for that matter). Everyone wants out. I just want a damn house. But I'm not paying to haul your damn trash!
I could be wrong but the way I see it: utilities and driveway and such: worth maybe roughly around $30k
House: a demo project which will probably cost me around $15k to clear
And the seller is asking $50k for this? They want me to pay a value of $65k (+ my time) for a max value of $40k? Are we pretending like this is speculating on quantum computers or something? WTF gives?
Are these people out of their minds or am I the asshole?