Through my years of experience with representing buyers, one of the biggest things I want to pass on to future homeowners is, pay attention to what’s behind the “pretty walls”.
We often see home flippers buying up distressed home and making them “pretty”. However, please please be aware of two things-
- If you are buying with an FHA loan, you have to wait 90 days from when that flipper had bought the house, BEFORE you are able to buy it from them. This is a rule with FHA. After 90 days the house is able to be bought by you if you wish.
- Lipstick on a pig- if you haven’t heard this word before, you should know it. If a house is flipped and is looking all nice and new, PAY ATTENTION TO WHAT IS BEHIND THE PRETTY PAINT & FLOORING. For example, the sewer, the plumbing, the workmanship of the updates. Many who flip a home are trying to get it done for the cheapest amount they can, so they can turn a bigger profit. But the pretty walls and flooring means nothing if you buy a house and the sewer breaks or if things fall apart. Inspection(s) will hep with this.
- Check out my video where I talk about it a little more in detail.