Relocate to Wisconsin : Uh Oh Mr. ABC Investments...You are A BAD Flipper !

Uh Oh Mr. ABC Investments...You are A BAD Flipper !

UH Oh......Such a beautiful house !   Shiny new stainless steel appliances...beautiful tiled backsplash...A spa bathroom rivaling those we have seen in higher priced homes...mmmm...Our Buyers are sooooo excitOffer to purchaseed...Pre-approvals are ready and pens full of ink...ready to write on what would appear to be their dream house !

   We join in the excitement...thinking about chilling the champagne for the Accepted Offer party ....Mmm....taste those bubbles  !

Champagne   And then...then the "Voice of Real Estate" takes over in our heads.....Look at the property history...Oh Yes...Mr. ABC Investments was the buyer...Hmmm....Check the previous listing...down to the studs...now covered in drywall...Rain Shower heads...new faucets....Mmmmm...Mr. A....you really went all out to give this house a second chance at a new life !  

    Next step.....Call the Inspector's office for the city...."Can you tell us what permits were pulled for the house at 321 Elm Street ?"  we ask....

   "Permits ?  What permits ? " questions the Inspector. "No permits have been pulled for that address," he reports.

    Sadly we call the anxious Buyers and tell them that history will spell disaster...we have a "no permits/no purchase" rule for our Sellers and Buyers. Liability for the Sellers,..disaster for the Buyers.Detective

     Beware of all things...that appear wonderfully flipped...or even updated, remodeled...Be the investigator....Know before you Show or List !  

    If you or anyone you know is looking for knowledgable, responsible, experienced agents in southeastern Wisconsin...Call the Hansons...honored to be of service for all things real estate.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Comment balloon 9 commentsSally K. & David L. Hanson • January 18 2016 09:53AM

Comments

Why do they need to pull a permit for any of the work you described? They didn't change the footprint of the home, or did they?

Posted by David Barr (Berkshire Hathaway HomeServices Florida Realty) about 2 years ago

Sally K. & David L. Hanson This scenario certainly begs for an answer and further investigation before signing on the dotted line.

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (Realty One Group) about 2 years ago

Hi Sally and David -- we have seen Mr ABC Investments in our market too -- I'm pretty sure he gets around.    

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) about 2 years ago

Ah, the story of my life, nearly weekly.  And the Flipper gets mad at me!

They call him Flipper!  Faster than lightning...

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) about 2 years ago

Sally and David, WOW all that work and not pull permits does not make any sense and now they will pay the price for it.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 2 years ago

Good morning Sally. Unfortunately we see these situation much too often on the mortgage side, not sure if these folks think they are going to get away with something, it doesn't happen if there is a mortgage involved.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) about 2 years ago

Very good advice, when it looks to good to be true the ugly will show its face in the future. Checking on permits is often over looked, thanks for the reminder.

Posted by Bob Ratliff, "Sold on Bob" (Canyon Vista Realty) about 2 years ago

Hi Sally.  We have Mr. ABC in our market.  Dumb not to pull permits.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) about 2 years ago

You have pull permits for any remodeling in area. 

 

Posted by Fred Sweezer Sr., Certified Home Inspector (Hud Certified 203K Consultant) almost 2 years ago

Participate