N School St
Portsmouth, NH 03801

*Rental Value Coming Soon

Overview

This Multi-Family is located at N School St, Portsmouth, NH 03801. This listing is NOT an active listing. Updates to this listing have stopped. This listing may be off the market. No further information is available at this time. It has 3 Beds, 2 Baths , 1,600 sqft of living space.
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Status: Inactive

Listing ID: 27597312

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Learn about N School St in Portsmouth, NH

This multi-family property is available as a fsbo at N School St. It has 3 bedrooms, 2 bathrooms, and 1,600 square feet of living space. Based on our analysis of the current market conditions in Portsmouth for N School St and comparable listings, the estimated market value is still being calculated. If purchased for rental purposes, this property might present an opportunity to make monthly rental income. The rental value will be updated on this listing soon. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at N School St are updated daily along with others in Portsmouth, New Hampshire.

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Property Information

Price: $319,900
Bedrooms: 3
Bathrooms: 2
Living Area Size: 1,600
Year Built: 1820
Day(s) On Site: 4464
Property Type: Multi Family Dwelling

Public Records

APN: M0141-B0010-L0000
Property Type: Single Family Residence
Township: PORTSMOUTH CITY

FSBO

The property located at N School St in Portsmouth, NH is listed as a FSBO

This is an inactive FSBO listing located in Portsmouth, New Hampshire. Properties on static.foreclosure.com are typically available for deep discounts that can often reach 50 percent or more!
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First Steps to Buying a For Sale By Owner (FSBO)

Property owners frequently will try to sell their property on their own without the assistance or expense of a professional real estate broker. These properties are called FSBOs or For Sale by Owners. Certainly, there are opportunities for real estate investors to realize savings in pursuing this kind of purchase, but at the same time FSBOs usually require a bit more work on the part of the seller and the buyer. With no real estate broker to manage the sale and transfer of the property, certain technical aspects of the purchase must be handled by a buyer or seller whose knowledge of the transfer process may be lacking. As a purchaser, the steps you take must be handled carefully requiring that you line up other service providers along the way so that you can avoid expensive mistakes.

Here are the basic steps to follow:

After you have identified the property, contact the seller and find out all you can about the property: What is the selling price? What is the timing of the sale? And whatever other information the seller is willing to offer related to the property.
Go look at the property and surrounding area and make certain this property meets your requirements. (Please keep in mind that the owner may still be living in the property and their privacy should be respected)
Once you have established that the property and the price are right for you, research recent sales in the area to make certain your offer is in line with other property values in the area.
Hire a professional appraiser to determine the property’s market value.
Present your offer on the property spelling out very specific conditions of the sale. Your “subject to” offer should have as a minimum the requirements that the property appraises for the price you are paying, that it passes all inspections, that the title is clear, and that you and the property qualify for the financing you will need to complete the purchase. If you give a good faith deposit with your offer make certain that it will be returnable should the property fail in any of these conditions, or you should fail to secure financing.
Once you and the seller have both signed the offer, that becomes a binding contract and the basis upon which your purchase will be structured.
Hire qualified inspectors and test for roof issues, termites or other infestations, mechanical and electrical systems, heating and air conditioning units, environmental concerns. Money spent on these inspections is money well spent. Should the inspections show problems of any sort, then discuss with the seller your concerns and determine if you and the seller can come to terms on what adjustments to the purchase price will be made to mitigate the problem, or if the seller can correct the problem prior to the consummation of the sale.
Have a real estate attorney or title company search the title to the property to make certain that title can pass to you unencumbered by liens, assessment, unacceptable easements, or any other issues that can prevent the seller from transferring clear and acceptable title to you and that your lender’s interest is insurable.
When you have determined that your offer and acceptance are assured, secure your financing for the deal through a lender.
Have your attorney or title agent act as escrow agent, and when all the conditions of the sale have been met, schedule the closing.

While it is true that For Sale by Owner sales can be a source for good deals in real estate, it is also true that this kind of transaction leaves a lot of the work up to the buyer and seller to organize and expedite. The sale of property can be completed between you and the seller on your own if you take an organized approach and write the sales agreement in such a way as to give yourself the protections you will need. Follow these steps in getting from finding the deal to closing on it. Hire professionals such as appraisers, inspectors, lenders, and title agents who can protect your interest as you go from the offer to the closing.

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