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/u/ShesHVAC48
Guest
First off, this is in Georgia.
I've had my eye on this property for over a year now, since it was first listed. It meets all of my families needs and checks off my non-negotiables. It's really my dream home.
I'm seeing some red flags now and I'm wondering what the hell is going on here. (Remember, no offers made, just watching it's progress)
1) Property was purchased by realtor more than a year ago and they flipped the home, updating all of the aesthetics.
2) Home is listed 5 months later at over double its previous purchase price.
3) Over the next 3 months, it goes under contract 3 times and falls through every time. After the 3rd contract fell through, they drop the price by 25 grand.
4) It has not gone under contract again since the 3rd one fell through over 3 months ago. This month they raised the price back to the original listed price.
Then I see this evening that it's tax assessed value dropped 81% for year 2023. (Our assessed values were just recently sent out by the county) The county basically says it's only worth 20% of the listing price!
I'm wondering if I should stay far away or if there may be an opportunity here. The house and property have sat stagnant on the market for over 4 months now.
I'm thinking it has a major problem that's uncovered during inspection and every buyer under contract ran away like their hair was on fire.
Any thoughts or advice appreciated!
submitted by /u/ShesHVAC48
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Tax assessed value dropped 81%?!
Continue reading...
I've had my eye on this property for over a year now, since it was first listed. It meets all of my families needs and checks off my non-negotiables. It's really my dream home.
I'm seeing some red flags now and I'm wondering what the hell is going on here. (Remember, no offers made, just watching it's progress)
1) Property was purchased by realtor more than a year ago and they flipped the home, updating all of the aesthetics.
2) Home is listed 5 months later at over double its previous purchase price.
3) Over the next 3 months, it goes under contract 3 times and falls through every time. After the 3rd contract fell through, they drop the price by 25 grand.
4) It has not gone under contract again since the 3rd one fell through over 3 months ago. This month they raised the price back to the original listed price.
Then I see this evening that it's tax assessed value dropped 81% for year 2023. (Our assessed values were just recently sent out by the county) The county basically says it's only worth 20% of the listing price!
I'm wondering if I should stay far away or if there may be an opportunity here. The house and property have sat stagnant on the market for over 4 months now.
I'm thinking it has a major problem that's uncovered during inspection and every buyer under contract ran away like their hair was on fire.
Any thoughts or advice appreciated!
submitted by /u/ShesHVAC48
[link] [comments]
Tax assessed value dropped 81%?!
Continue reading...