Would you be suspicious?

amother

Sat, Jan 28 2012, 8:48 pm

There is a condo that has been for sale for 4 or so years in my neighborhood. It's huge, great location and a decent price but it's never been sold. People are desperate to buy here because renting is so expensive etc. so why is it still around? Would this make you suspicious? All other properties around here get grabbed before you could say boo and this one is just sitting. What are your thoughts?
Another thing, we were thinking to buy a property for a few years (5) and then sell it and move to a bigger place or to another community if we so decided. Do you think buying such a place or any condo is a risky move? Is resale that difficult? My DH thinks it's a great investment but I'm just really nervous.
What do you think? Wait it out till we're sure where we want to live or can afford a larger place or buy such a place for a few years having in mind to sell?

Fabulous

Sat, Jan 28 2012, 8:52 pm

The first thing I would do is simply ask. Why is it on the market for four years? If they have a reasonable explanation that CAN BE PROVEN, good. If they start hemming and hawing, you know there is probably a problem. Also, you can have a licensed inspector come and for a few hundred dollars can check almost everything out.

Merrymom

Sat, Jan 28 2012, 9:01 pm

Go to the neighbors and ask them, if they have the previous tenants telephone number then even better. I almost rented an apartment with black mold that the landlord promised the tenants he would fix which he never did. Thank heavens I managed to sneak her phone number while he was showing us around.