I googled Kevin’s old address of the falling down townhouse he sold for $50K back in February. The investors that bought it have a pending sale for $165K.
My original guess was that they’d just give it quick fixes and rent it out for about $1500 a month. But it’s actually resold! I’m a little floored actually. I’m wondering if these new buyers know about the massive foundation problem. The investors are required to disclose all known issues. And it hasn’t been long enough for them to have fixed it properly.
I’m in the home stretch of my basic real estate class, but I only took it for fun. I’m definitely no expert. These are screenshots from the Zillow listing. It looks REALLY nice. But how long before it starts falling down again? 😬
I do participate in a real estate subreddit. Some people who’ve bought their homes from flippers are having a lot of problems. One person posted a picture of the entire kitchen cabinet crashed down out of the wall onto the floor and the broken dishes everywhere. Most comments agree “never buy from flippers”. It’s interesting to me, but if they didn’t tell these people about the foundation, then that’s not ok. Not sure what an inspector would say. I do remember my class talking about things an inspector can’t identify, but I’d have to refresh on what those things are. Wow just wow. I’m glad they saved my boyfriend, but the buyers are in my thoughts and prayers 🙏🏼
Too bad whoever buys the townhouse doesn't have a history of the place to check past and potential future problems of the property, like they do with cars (Car Fact). If the old problems reappear after a sale, I wonder if the buyers can sue the sellers?
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