old fixer upperAny foreclosure could be a money pit. No disclosures and "as is, where is" should be red flags.

In today's world of foreclosures and bargain hunters you can see where this movie could play out easily. In the movie "The Money Pit", Walter Fielding (Tom Hanks) and Anna Crowley (Shelly Long) decide to start looking for a new house, but there's not much they can afford! This soon changes when they meet a lonely old con artist who sells them a beautiful mansion at a ridiculously low price. Hmm, heard that one before? As one might expect the second they move into the house it begins falling apart, starting with the stairway collapsing to the bathtub falling through the floor to eventually the chimney falling into the house! Finally, they have to renovate the house before the frame collapses but the renovations also prove to be a disaster. So often in our real estate world we are asked to help our buyers find that smoking deal that only every person we have talked to in five years is after. No matter how often we remind the buyers that with no disclosures they could be in for bad surprise, they still let the cheap price tag rule. Most of the time if the buyers knew how much they would eventually put into the "deal" to make it home, they would have listened to their agent (the person waving the red flag) and not their pocket. The movie is hilarious but the real world version can be devestating. All we can do is make sure they have inspections done and say a prayer for them.

As always if you think the Big Rapids area is a place you would like to live give us a call (231) 796-5253 or check out either link below and we will help you find a house so the Big Rapids area can be your home too. Thanks for reading. 

Big Rapids Real Estate Big Rapids Homes

 

Randy Ostrander
Lake and Lodge Realty
107 N. Michigan Suite B
Big Rapids, MI 49307
(231) 796-5253
randyooo@yahoo.com
 

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Post is included in group: Diary of a Realtor
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6 Comments on Gotta go with "The Money Pit"

APR
04
2012
987,427 Points 81 Featured Posts Called Shot Master


Thanks so much for your participation and entry to

“Be The ‘Star’ Of Your Own Movie”
6:49pm • #1
2 Featured Posts

Fun idea, Randy!  I was thinking of doing this one!  Guess I'll have to stick with Casa Blanca!
7:52pm • #2
112,294 Points 3 Featured Posts Outside Blog Called Shot Master

I think this movie single-handily freaked out a lot of buyers!  Even the HGTV show Holmes on Homes is scary!
7:54pm • #3
APR
05
2012
1,189,437 Points 31 Featured Posts Outside Blog Called Shot Master

We agree with Francine, Randy.  The dangers of 'as is'.  There is more behind those walls than we know. 
5:46am • #4
APR
06
2012
620,007 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Randy, The Money Pit made be laugh uproariously and cringe at the same time. We definitely don't want our clients buying one of them. Thanks for the post.
11:21am • #5
APR
14
2012
762,151 Points 106 Featured Posts Outside Blog Called Shot Master

Randy, as you said, a house that is a "money pit" may be funny in the movies but in real life, not so much so.
11:32am • #6

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Randy Ostrander-Real Estate Broker, Serving Big Rapids and West Central MI

Big Rapids, MI

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Lake and Lodge Realty LLC

Address: 107 N. Michigan Suite B, Big Rapids, MI, 49307

Office Phone: (231) 796-5253

Cell Phone: (231) 250-9802

Email Me

<!---- start copying here ----->Author Bio: Randy Ostrander, Broker/Owner of Lake and Lodge Realty in Big Rapids, MI covers all of West Central Michigan. He does work weekends so he can be there wheneve you are ready to handle all of your real estate needs. <!-- insert your own bio between the <p> tags ---->


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