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Updated almost 8 years ago on . Most recent reply

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Christopher B.
  • Rental Property Investor
  • Knoxville, TN
531
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701
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Just need to vent.. sellers destroyed house

Christopher B.
  • Rental Property Investor
  • Knoxville, TN
Posted

There's not much to this post except I'm frustrated with a good deal going bad because a seller breached their contract and just wanted to vent a little. 

Earlier this week I put a house under contract. 2700sf 3/2.5 with 1.65 acres for $30k with the agreement that all materials installed or not would stay with the house.  Someone had been salvaging the heart pine floors and other materials. 

The house is an early 1900's farmhouse with heart pine floors, rough sawn framing, and wrap around porch. It's beautiful and had no structural or major framing issues. The most solid old home I've ever been. Naturally I was stoked. 

Today my GC and partner on this deal went by the house. The sellers not only salvaged and removed all of the heart pine but they took chainsaws to the house and cut significant portions of the framing and floor joists! I can't believe it. What was a structurally sound house has now been compromised. They've added at least $10k in additional costs to the rehab but most disheartening to me is they removed the history and original character of the house. 

I'm not sure if I'll move forward with the project now. Especially if they don't come down in price. 

This was the dining room, they cut the floor to get to the nice rough sawn floor joist

Entry foyer. There was an entire complete floor above the door there 2 days ago with nice heart pine

Header has been cut and there was a floor system here as well.

Most Popular Reply

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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

Sorry to hear.  Whatever you decide to do, try to take feelings out of it and just make decisions based on whether or not it is a good deal now, with the reduced price, and forget the past.  You will run into disappointing people and situations a lot in real estate and you just have to roll with the punches unemotionally.  Good luck.

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