House #29: Budget Recap

May 18, 2012 · 0 comments

The Ticket House is under contract to sell for the second time, and we’re hopeful that this one should close relatively close to on-schedule (end of May).

The first appraisal for this one came in at the contract price, so that’s great news! The mortgage broker is hopeful that we won’t need a second appraisal, but I’m not convinced. It’s in underwriting now, and I have a feeling that the underwriter will require a second appraisal prior to closing, so I’m expecting that to happen. But, if we get lucky and it’s not required, that would be a great surprise.

Here is the budget I projected prior to the project starting, and below is a detailed breakdown of the final budget numbers (comparison of estimated to actual):

Total Final Budget

We came in about $450 under budget on this project, though we still have a few repairs to complete for the new buyer; I’ll post the final project numbers after the sale is completed…

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up for our Newsletter and get immediate access to our FREE 150+ Page eBook on New Construction, plus all of our business tools: Single-Family and Multi-Family Business Plans, Rehabbing and Buy-and-Hold Spreadsheets, Contract Templates, and more!
We respect your privacy. No Spam...EVER!