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Old 12-28-2018, 06:34 PM
Status: "To to to Tuuuuuson..." (set 11 days ago)
 
Location: in my car
3,314 posts, read 1,319,794 times
Reputation: 8503

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We're under contract for a house that was just flipped.
The appearance is good, fresh paint and new appliances, but our inspector found found several issues.

For instance, they put in a new kitchen sink, but there's something wrong with the pipes and there's no water coming out of the pretty new faucet. There's a brand new air conditioner that pulls 50 amps, but the house only has 60 amp service, so if the a.c. is running, you can't use any other appliance.

Seller originally sent a disclosure statement that hadn't been filled out, saying he'd never been on the property. We insisted, and it turned out he knew quite a bit about the place.

We gave him a list of fixes we want. Time just ran out and he hasn't replied, so I guess he's not making any repairs.

I guess we'll just walk, though we love the property. Our offer was a little over market value because the land is so nice, but that means we probably shouldn't put more money into it.

And I feel like the seller's a sleezebag.

Advice? Suggestions ?
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Old 12-28-2018, 06:44 PM
Status: "Tinsel, not just for decoration" (set 8 days ago)
 
Location: North Beach, MD on the Chesapeake
32,561 posts, read 39,968,584 times
Reputation: 41227
Quote:
Originally Posted by steiconi View Post
We're under contract for a house that was just flipped.
The appearance is good, fresh paint and new appliances, but our inspector found found several issues.

For instance, they put in a new kitchen sink, but there's something wrong with the pipes and there's no water coming out of the pretty new faucet. There's a brand new air conditioner that pulls 50 amps, but the house only has 60 amp service, so if the a.c. is running, you can't use any other appliance.

Seller originally sent a disclosure statement that hadn't been filled out, saying he'd never been on the property. We insisted, and it turned out he knew quite a bit about the place.

We gave him a list of fixes we want. Time just ran out and he hasn't replied, so I guess he's not making any repairs.

I guess we'll just walk, though we love the property. Our offer was a little over market value because the land is so nice, but that means we probably shouldn't put more money into it.

And I feel like the seller's a sleezebag.

Advice? Suggestions ?
Does he have an agent handling the sale? As it sits, as you've described, it likely won't qualify for a mortgage so he'll have to wait for an all cash buyer who will overlook the issues.

I haven't heard of 60 amp service for decades, any inspector/appraiser will flag that immediately.
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Old 12-28-2018, 06:46 PM
 
Location: planet earth
3,506 posts, read 1,241,701 times
Reputation: 7736
Figure out how much the fixes are worth, what the house would appraise for, and if you are willing to pay for any shortages between the appraisal and purchase price and if you are willing to pay for the needed fixes.

Discuss all with your agent.
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Old 12-28-2018, 06:52 PM
Status: "To to to Tuuuuuson..." (set 11 days ago)
 
Location: in my car
3,314 posts, read 1,319,794 times
Reputation: 8503
We are that all cash buyer.
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Old 12-28-2018, 06:59 PM
 
8,108 posts, read 3,956,985 times
Reputation: 10886
If the owner had not been on the property then your inspection may have been his first awareness of things that were wrong. He may have been taken for a ride by his contractors and is now fighting with them over the repairs.
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Old 12-28-2018, 07:01 PM
 
Location: planet earth
3,506 posts, read 1,241,701 times
Reputation: 7736
Quote:
Originally Posted by steiconi View Post
We are that all cash buyer.
Then figure out what you are willing to spend for a property you like.
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Old 12-28-2018, 07:06 PM
 
Location: California
29,822 posts, read 32,341,421 times
Reputation: 25109
It's probably best to walk because a shady seller can cause much grief down the line.

I truly dislike most flipped houses. Not only are the Home Depot specials on full display but you can't assume any serious work has been done anymore since everyone and their idiot brother seems to be in the game.
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Old 12-28-2018, 07:45 PM
 
36 posts, read 7,696 times
Reputation: 127
Quote:
Originally Posted by Ceece View Post
I truly dislike most flipped houses. Not only are the Home Depot specials on full display but you can't assume any serious work has been done anymore since everyone and their idiot brother seems to be in the game.

You already found 2 major issues: no licensed plumber or electrician would've allowed those conditions to occur, so you know the house has been half-assed by Cletus the DIY handyman. I shudder to think what other issues are concealed behind the walls that the flipper (or his 'contractors') tried to conceal.


Run far and fast.
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Old 12-28-2018, 07:54 PM
 
Location: On the sunny side of a mountain
3,013 posts, read 6,721,052 times
Reputation: 5866
Run. Those are major issues and there are likely more.
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Old 12-28-2018, 08:52 PM
Status: "I had a Merry Christmas. Jesus is the Reason......" (set 3 days ago)
 
Location: Where the last of the "Big 3" has retired. Spurs country.
3,133 posts, read 3,700,658 times
Reputation: 7746
I would never buy a flipped house. I wouldn't trust it. Heck, the one I lived in for 27 years we called "the Kegger" because one extended family owned all the land and built all the houses. We were first to buy outside family and every time my husband went to fix something it was a major PITA to fix because everything was done half-as*ed, and my husband knew how to fix just about everything. We heard that the guys were always drinking when they built that house.
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