$239,900

2 Beds 1 Bath

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Ne Marine Dr D-57,
Portland, OR 97230

Name: Ne Marine Dr D-57, Portland, Oregon 97230 | Foreclosure.com
SKU: 55541192
Price: 239900 USD

Overview

This is located at Ne Marine Dr D-57, Portland, OR 97230. It has 2 Beds, 1 Bath. This property is As-Is Deal.
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Status: Inactive

Listing ID: 55541192

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Property Information

Price: $239,900
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Total Square Feet: 1,000
Lot Size: 3.25 acres
Style: Ranch
Air Conditioning: Heat Pumps
Waterfront: Yes
Year Built: 1974
Source ID: 20551278
Days On Site: 141
Subdivision: The Islands Marina
Elementary School: Salish Pond
Junior High School: Reynolds
Senior High School: Reynolds

Public Records

Land Area Sqft: 141,570
Year Built: 1987
APN: R320295
Property Type: Industrial

As-Is Deal

This is an inactive As-Is Deal listing located in Portland, Oregon. Properties on www.foreclosure.com are typically available for deep discounts that can often reach 50 percent or more!
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Property Classification

Classification Id: Wholesale Houses
Classification Desc: Purchase a property for a significant discount - usually in need of some repair or updating from a homeowner, Realtor® or investor who needs to sell quickly. This is your opportunity to fix up a home and move into it or sell it for a profit.

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Learning Center

First Steps to Buying a Real Estate Deal

Properties that are labeled as "Deals" can be structured in a variety of ways depending upon the condition of the property and its title, and depending upon your own motivation. These properties are not necessarily in a foreclosure, preforeclosure, bankruptcy, etc. and may just be available for sale by the current owner. For the handy person who knows construction and remodeling, purchasing a 'fixer upper' and bringing it up to standards offers terrific potential for profit. Likewise, ‘as is’ properties offer no guarantee as to the condition of the property or its title, but can represent a unique opportunity for the real estate investor willing to make the effort to identify any hidden flaws and factor that into the purchase.

First Steps to Buying a Real Estate Deal

You can shop for properties in the 'as is' category meaning there will be no negotiating the price conditioned upon known or unknown areas needing your attention. This goes for the condition not only of the structural or cosmetic aspects of the property, but also the condition of the title to the property which could have liens, encroachments, or easements. You should research the property carefully so that you can build the mitigation of these issues into your price.
When a property is advertised as a 'fixer upper' you can be certain that work will be needed to bring it up to livable or marketable standards. If you are not handy or knowledgeable about building design or construction, you will need to hire inspectors and contractors, so that you can plug cost estimates for repairs and upgrades into your overall pricing strategy.
Contact the listing broker or seller and ask for an appointment to see it. Do a complete walk through inside an outside so you can see for yourself what condition it is in. Drive around the area to make certain it is a community that is right for you.
Have a qualified appraiser or real estate professional supply a valuation. Money spent on a real estate appraisal in such circumstances is money well spent.
Have an attorney or title company search the title to the property noting any other liens, restrictions, or encumbrances that may exist.
Have your financing lined up so that you know you will be in a position to close when settlement time arrives.
Calculate the cost of repairs that you will have to make and present a reasonably adjusted offer to the listing broker or seller.

In each of these scenarios you still must perform your due diligence. Search for the property that suits you. Make a visual inspection of the property and neighborhood. Contact the person or entity that controls the property: Realtor, property owner, lender, or court appointed receiver. In your offer include all the conditions you need to protect yourself including inspections, appraisal, title search, responsibility for repairs, and satisfactory financing. Read and understand the appraisal, inspection reports, and title report. These items affect your bottom line when the transaction is completed.

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