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Hi Alister,
Sorry to here, just a thought but you may be able to set up a finance deal with the vendor, I would certainly be getting legal advise on how to get it happening, If you can you may be able to buy out the other half,( find out if half of market price or what's owing if not owned outright) or just do a fire sale on it whit maybe a tenant agreement attached, only idea's. hope it it of some help.
Flooding does concern me but in turn there are people in my neighboring town that deal with flood every 3-8 years, There will recede (1in 50years), you might be able to buy at reduced and never see it flood in the next 20 years but it could happen again next year, reserch town history for floods and make and educated decision.
Hope this is of some use.
Question, is there any investors out there from around the area who know the area better as to how the markets is, the real estate agents are not a lot of help. The parents want it sold, is the rental market any good in the area? is there a prospect of increased jobs cumming to area in the near future?
My friend doesn't want to just give it away and is doing some slight improvements, I am not in a position to buy at the moment.
