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Can someone explain how they got such a good deal on the house?
Paid $800K for it back in 2010 and trying to sell now for $3M?
Even for 2010 prices, it should be worth at least $2M.
It was a foreclosure, I'd imagine.
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I'm sure the reason the police did not arrest anyone for running an illegal business is probably because it is a zoning violation, not necessarily a criminal one. I imagine you would have to get the city code enforcement inspectors involved and that would take some time.
Can someone explain how they got such a good deal on the house?
Paid $800K for it back in 2010 and trying to sell now for $3M?
Even for 2010 prices, it should be worth at least $2M.
Appears to have been $800K and a $1.4M construction loan.
I'm sure the reason the police did not arrest anyone for running an illegal business is probably because it is a zoning violation, not necessarily a criminal one. I imagine you would have to get the city code enforcement inspectors involved and that would take some time.
That's it. Even once the city code enforcement was involved what are the consequences -- a fine?
I'm not sure what the state of the property was when they bought it 2010, but the house wasn't officially completed until 2011. It even appears unfinished as of the January 2012 photo in the Wake County database...debris bin out front, no grass or landscaping, and front fountain unfinished.
I'm not sure what the state of the property was when they bought it 2010, but the house wasn't officially completed until 2011. It even appears unfinished as of the January 2012 photo in the Wake County database...debris bin out front, no grass or landscaping, and front fountain unfinished.
Yup. Looks like they bought it from people who never finished it.
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