Beware of Flippers Trying To Rip You Off
In a sellers market, especially one that where a house can get as many as 15 or more offers, scam artists are out to make a quick buck. Homes are often selling for over asking price and there are plenty of buyers willing to skip a home inspection to get a house. It's the perfect market for dishonest home flippers to take advantage of buyers.
The goal of most flippers is simple. Buy a home that needs work and sell it for as much money as possible all while putting as little time and/or money into it. The goal is profit. Often this goal can result in a supposedly "updated or renovated" home with many problems. In some cases it can be like putting lipstick on a pig. New paint, newer flooring, appliances, and quick fixes to give the home a good appearance, but hiding what are often obvious problems. Many times the workmanship of flippers is poor because their goal isn't to do a good job so much as it is to make it look good for a good price.
As a home inspector I often see flipped homes that have serious issues and very poor workmanship. Even in homes done relatively well there are always some issues that seem to pop up. Things like leaking pipes, roof issues, foundation issues, poorly done flooring, sub standard electrical work are just some of the common issues found in flipped homes. Some of these could result in buyers having to spend thousands of dollars to repair these "newly renovated or updated" homes in order to fix problems the flipper covered up or didn't fix correctly.
When buying a home do your due diligence. Make sure you are buying a home that is free of major problems and is safe. Buying a home over asking price and then having to spend money to fix problems after moving in could result in many home buyers being in financial ruin.
11/16/2021 01:22:35 pm
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Bob Carter is a home inspector in Mount Pleasant, Wisconsin. He is the owner of Dairyland Home Inspection.