Funnt Stories About Doing Your Due Diligence
I’m Alixander, real estate agent in the state of Utah, and Realtor with Keller Williams Salt Lake City and today’s video is all about due diligence.
And just rolling out today…. we are featuring on our website, not only the blog post, & the video, but we are also rolling out with the podcast. So please find us at your favorite podcasting place. Pick us up. Download us. We’d love to go with you.
So with that said today’s topic being about due diligence when you’re acquiring property.
I wanted to tell a couple funny stories.
Murder is what she wrote
The first of which is that is strange one.
I have a good friend of mine who likes to buy particular things and when he found this home, he made an offer on this home and wanted to thoroughly inspect this home before he higher than his inspector.
I highly recommend that you get a independent inspection of your property.
He wanted to look at one particular thing, and it was the whole reason why he wanted to own this house. And here’s what it was:
Someone was murdered in the home.
Right in the middle of the living room. Right there… the carpet was cut out in a big circle. And there’s a big red spot right in the middle of the room.
I’ll admit not really my taste, but he loved it. He was so excited about it. He was like, “Man, there’s going to be ghosts here! this is so cool! There’s a story!”
You know, if that’s a problem to you, you don’t have to buy the house.
I didn’t but for him it was worth it. And that’s why he made the offer that he did. Unfortunately, his offer was beat out by another one. Someone really wanted what I call The Murder House.
Fine enough neighborhood…
The second story that I have for you today about due diligence was a client of mine is purchasing a condo. It was a fine condo, in a fine enough community. And when we did our home inspection he was encouraged by his home inspector to do a meth test.
When the meth test came back, on a fine enough condo, from a fine enough family, and a fine enough community, it came back positive. And you are left with two options in that moment as a buyer who’s going through their due diligence:
- Do you buy it?
- Do you ask the sellers to repair it?
Because most loans won’t move forward when they find out that there’s meth, just how it goes.
Well, we got it all remediated. And he moved in, and he loves his place.
Lucy in the sky with diamonds
The next story I have for you is kind of a funny one.
My friend loved this house over on Lucy Avenue. He was so excited about it. And I remember sitting down with him at lunch and he said, “You know, should I do it? “
And I said, “Yes, I really feel strongly about this house, at least noticing how you feel about this home, I feel good about it. But before we do go any further, let’s get the home inspection.”
So the home inspector goes out, takes a look at the house. And oh… my… gosh…. when I got the report back, I was blown away! I couldn’t even believe what the contractors had hidden inside this house.
At some point in the past, as I found out from the listing agent, some Hooligans had taken a motorhome, and they backed it up into the house and smashed the whole house causing the roof to shift and all of the joists to twist and break… and they didn’t replace it during the remodel!
I was just blown away, blown away by that one!
So we didn’t move forward with that house. It just it wasn’t going to be a good fit for him.
No Problems, Just a Story
The last one I have for you is…
Sometimes when we do our due diligence, the opposite of problems happen like this…
My friend was purchasing a home in find enough neighborhood and when the inspector went out took a look at the house, he didn’t find any problems.
Sure, there was some strange things… but nothing out of the ordinary. I mean every home has problems but this one didn’t seem to have problems.
And so what I ended up having to do is I ended up having to call the agent and I asked “What’s going on with this house? There’s no problems with it.”
I mean, how often do you have that conversation, huh? Where are all the problems, huh!?”
But, as luck would have it, there were really no problems with the house.
The ageny said, “Well, the home comes with a story. And that’s the hardest part. The seller… their daughter, past away in their sleep about two months ago. They’ve only owned the home for a couple months.”
And to me, that’s a tragedy to hear that that happened in the home.
I said, “Was it… criminal?”
He said, “No, it wasn’t criminal.”
I said “Was it… self-harm.”
He said “No, it didn’t seem that way.”
“So she just died.”
Sometimes there’s nothing wrong with the house, and all it has is a story. Whether or not you’re okay with the story depends on if you want the home or not.
Anyway, I’m Alixander.
Thank you very much for joining me for today’s Morning Edition of the SLC real estate agency’s video, podcast, blog.
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Have a great day out there guys.