We have a local agent who buys and flips homes. This means he buys homes in need of fixing up and updates the home. Not all that uncommon here and it really helps upgrade the home inventory when done right. Ah, but there is the rub...
This agent is beginning to get a reputation for poor work and cutting corners. The homes he lists are even referred to with a variant of his name, and when uttered to another agent, both sadly shake their head.
These homes seem to have defects hidden or painted over by the rehab team. I don't know if the agent does any of the work himself, but his homes are not what they appear to be. These homes generally look great inside with new appliances, carpet and paint, and lighting fixtures. However, if you look closely, defects start to appear.
I showed one of these listings this weekend and was upfront to my clients what we should look for in this home, and we found it; mold.
In the basement, growing on the fresh trim paint, was a new crop of mold. I think the old crop was just painted over. I explained to my clients that this can be remedied, but it begins to put doubt in their minds about what else could be wrong.
This agent's flips are really nice looking and I think he could do much better by not cutting corners when he rehabs them. His reputation could begin to cut into the number of agents even willing to show his homes.
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