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Updated over 5 years ago on . Most recent reply

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48
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Ralph Stowe
  • Richmond, VA
28
Votes |
48
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Selling mid-flip. Why?

Ralph Stowe
  • Richmond, VA
Posted

So I'm finding several properties on my local MLS where it looks like a rehabber has purchased a property, did the demo work, cleaned it up, put on new siding, exterior windows, sometimes a new roof, framed out the structure, and now are advertising it for sale at this point. The only reasons I can think of why someone would do this is A: They realized they are way over budget and are heading for a loss, they want to recoup their investment and move on, leaving someone else to deal with it. or B: they are catering to designer investors who just want to put their finishing touches and design on the property without having to the nasty demo work and such. Is it 1 of these two reasons or am I missing something?

Most Popular Reply

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23,418
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13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

@Joe Funari An agent certainly does Not have to tell a buyer why a seller is selling, neither legally or ethically ....if anything, that might open up the agent to not fulfilling their fiduciary responsibility to the seller. 

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