NEVER Buy a House Without Knowing This...

In this video, we take a closer look into the details of this home. From the outside, it might seem like any other house on the block, but what's hiding behind the walls could cost you a fortune in repairs and renovations. We'll show you the critical red flags that should make any potential homeowner think twice before buying this house without having an inspection.

From the foundation to the roof, we'll uncover the hidden dangers and costly issues that plague this house and many across the United States. So if you're thinking about buying a house in 2023, don't miss this.

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*DISCLAIMER* The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with financial advisor or lawyer.

[kenbagwell]

I bought my current home as a foreclosure and have lived in it the past 25 years. It's worth at least 3x more than what I paid for. It was an older home and needed some repairs, but it's been the greatest investment I ever made.

[dougl]

I bought a foreclosure 10 years ago. I did all the work myself correctly.
It’s worth 4x what I paid and it’s paid off. Best thing I’ve ever done. I live for almost free.

[dc]

Almost bought a home from the parents of a childhood friend. Rented it for a while with the possibility to buy. They also said I could do any upgrades I wanted to do. After I got settled in I decided it might be a good idea to get the home inspected, things like evidence of water damage in the bathroom, fixtures that were original to the build of the home some 40 years ago, and a roof that was not in great shape. Once they found out I had the home inspected, they were very upset with me. I may have lost some close friends, but it's better than having bought a money pit.

[freddyhollingsworth]

A family member was angry at the bank due to them foreclosing. As they packed the last load he pulled up the far back toilet and dumped 4 bags of ready-mix concrete down the sewer. It was a slab house. The new owners had to spend $60, 000 to have the floor jack hammered up and new pipes(per the old so also consider damage from the previous owners being angry.... I know of one guy that poured 5 gallons of used motor oil down the well on a rent house he was being kicked out of.

[joseph]

There was a property in my old neighborhood that the deadbeat tenants had destroyed. The landlord was at his wits end on what to do, as the repairs would exceed what he would be willing to justify on the property. So he allowed the fire department to use it for training. They torched it, practiced rescue, put it out and had their arson investigators do their practice. He then bulldozed it and threw a cheap modular home onto the land and sold it off.

[xxhierophantxx]

As a home inspector, sunken floors are typically 1 of 4 things, none are inexpensive-

Termite, Moisture, Mold, and Settling. Oftentimes, it's all four.

Sinking typically indicates soil that is too wet, moisture content in cellulose over 20% makes a perfect snack for termites and is a minimum requirement for mold.

Also, when you have a house set up on block and an open crawl space, the moisture is basically impossible to control and free access for rodents.

Termites could cost as much as 3k to eliminate, mold can run upwards of 20k, your estimate for jacking up a house is right on- 10-30k, it really depends on if they have to drill down to bedrock, and in Louisiana I'm certain they would.

Avoid crawlspace homes without closed foundations. On top of the moisture issues, it's going to be impossible to keep wildlife out.

[albertmarnell]

Always get an engineer's report. You seem like an honest realty person. They are very rare. You are correct about labor. I always check for a license and insurance. Rarely will I let someone do anything without a license and insurance. Great information. Most people don't do their homework. Lift the lid of the toilet tank and all of that kind of stuff. Don't just look at the room size. Look at what has to be replaced or soon to be repaired!

Listen to this guy!!!

[jimh]

Great advice! Im a GC and you are 100% correct. And this doesnt include the painting and bathroom remodeling or landscaping or patio and deckwork. Buying a house that needs a lot of work is kind of like trying to restore a classic car. Your always gonna put more money into it than you think. And in the end buying a house thats turn key ready can make lifeuch easier. But hey sometimes you just cant afford that turn key and dont mind doing the work yourself.

[noreenebostick]

God bless homeowners who get foreclosed on and leave the foreclosed home in great shape. Why destroy a house just because of a negative relationship with a bank when a house can be a blessing to someone else. Walking away in peace makes for a peaceful future. Overcome evil with love. Smiles

[gregorylyon]

My brother bought a foreclosure from the bank. He thought that he got a deal. Then after he bought it he found out what things really cost to fix. The electric lines were cut at the box by whomever lost the home. The well pump was missing. The siding was never finished on the back of the house. The only things that were good was the roof and the foundation. The house was a disaster overall. It cost him thousand of dollars over his budget to fix. And he didn't even finish all the repairs.

[ganggreen]

When I was house hunting one of the properties I looked at was a foreclosure. It needed a new roof and had serious water damage. The house smelled of mold. It was also full of abandoned personal stuff that would have taken multiple construction dumpsters to haul out. I could have gotten it for less than $60K and fully restored it would have been worth $150K+, but I would not have been able to do the work myself and I don't think everything that needed to be done could have been hired in for the $90K difference.

[johnschnellbach]

My son's house he bought was $7200 to get rid of the sagging foundation. Plus, they couldn't get all of it out. You still will have a sloping floor as well as all the cracks in the walls you'll have to fix

[RECIPROCITY]

Thank you.. your one of the smartest most upfront honorable agents I've found....

[richardavery]

You are 1000% correct, there only a few situations where you can get a bargain, like I did in 1993, I bought a foreclosure which was 1 year old and not lived in for 4 months build and sold in 1992, so the place was new. Even so the roof needed minor work and I needed termites treatment, all that said I paid $270, 000.00 when it sold for $368, 000 in 1992! Today it’s worth a lot more!

[maperdue]

Anyone who prevents the lapidated or can dimmable housing from clogging up their town is doing good work. It's commendable and difficult dirty work sometimes, but I grew up in South Dallas and there are so many dangerous and unlivable properties that just sit there for decades.

[samtx]

Time to ask the bank for a 50% discount…!

[WORDversesWORLD]

I’ve seen brand new homes in need of work, not surprising at all for an old home needing it.

[wayofthekodiak]

"Labor is expensive"
Tell that to my customers who want everything for free or almost free.😂

[Passionate]

I am writing to you today to share with you the best video ever made on YouTube about real estate. This video is an absolute must-see for anyone who is interested in buying, selling, or investing in real estate.

[wisenber]

A metal roof will last more than 25 years in the South. Most are warrantied for 50 years.
If a metal roof fails before that, it was either under water or got hit by winds over 130 mph.
Insurance companies will ask when a shingle roof was installed. They don't ask how old a metal roof is.