behind.
The buyers filed for bankruptcy, and the house was repossessed. They left the home the day their daughter was born, just three months after moving in. The house briefly went back on the market. Now owned by the bank, it was listed at $244,900 a year later. The property has since been taken off the market, and the bank decides what to do. The moral of the story is to have a good inspection. A price attracted these buyers. They didn’t have a proper inspection of the home before purchasing. The real issue was the agent who cared more about selling the house than his clients.
HOME-BUYER PLAGUES
Although a home inspector passed on Justin’s and Kate’s home, he missed some problems. For instance, the previous homeowner supposedly installed and tested the sump pump in the basement, and it failed shortly after moving in, flooding the basement. Then, the sunroom was filled with termites, costing the couple $2,000 in repairs. After the termites were eradicated, they discovered the sunroom was entirely covered in mold, and there was no caulking around the windows to keep the moisture out. A better home inspector would have been able to see the signs of termites and mold. The inspector should have also checked the sump pump, but it could have failed after the inspection. Sump pumps can burn out, lose power, become clogged or misaligned, or malfunction in various other ways. It’s valuable to have a warning device installed to signal water buildup. These alarms can alert homeowners or neighbors to flooding, so it can be resolved before water damage occurs.
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