Buying a fixer upper and putting a ton of time and money into the property to make it livable again can be quite an undertaking, but some people can't resist the appeal of putting their own stamp on a house. And this is why Terry Jordan fell in love with and bought a house in Senatobia, Mississippi on a nice piece of land that even came complete with a barn. She paid $11,500 for the foreclosed property, and planned on sprucing it up and then selling it for a profit.
Terry and her husband got to work right away and gave the home electricity, plumbing, and a new roof -- to the tune of thousands of dollars. So you can only imagine their shock and disappointment when they found out they had actually been sold the wrong house!
It turns out the home they had purchased was located next door, and was much smaller and full of mold. Can you even begin to imagine how irate they must have been? I would be so disheartened to know I'd put all that money and tender loving care into a property only to find out I never owned it in the first place.
The mistake wasn't realized until Terry had the property surveyed, so I guess this serves as an important lesson that these sorts of things should be taken care of before starting any renovation work. The odds of something like this happening are pretty slim to none, but it's still not worth risking your blood, sweat, and tears (not to mention hard earned cash) for. Terry and her husband are now hoping to find a lawyer who will take their case, and help them recoup their losses.
Hearing this story only reaffirms my beliefs against buying homes that aren't move-in ready. Brand spanking new and perfectly shiny is the only way to go -- for sure.
Do you prefer new homes, or do you like to do your own renovations to make the home your own?
Image via shawnzrossi/Flickr
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Comments 8
That being said, these people got screwed by a moronic realtor. The article linked says they saw it 3 seperate times? I'm assuming someone had to show it to them. If that's the case, hat realtor owes them a shit ton of money!
Its nothing to do with rennovating or not. Its to do with some dumbass that didn't do their job properly.
If they were shown the house, then something is wrong here. I'm wondering if the owner was trying to pull something over on them? Either the owner sold the house and intentionally showed the wrong property, or the owner allowed a realtor to show the wrong property. Either way, they should be getting ALL The money back.
I like renovating buy my home was still move in ready it just needed updates. A coat of paint, new floors (or in my case refinishing the original hardwoods) goes a long way.
I love buying different things, including real estate, and renovating them for resale. I have heard crazy stories about having this hobby, but I've never heard something quite like this! http://www.kyoungrealestate.com I hope this never happens to me!