It's buyer beware when it comes to flipped homes. Those like-new renovated homes could have hidden unaddressed issues that will not come up on your typical home inspection report. So how do you protect yourself as a buyer or real estate investor?
CNBC wrote in a recent article that “those picture-perfect flipped homes can be masked money pits." While some experienced renovators and talented newcomers are doing exceptional work, there are many unqualified and possibly unscrupulous flippers out there.
A flipped home is one that has been sold at least twice in a year -- usually with upgrades. It's been such a hot activity in recent years Trulia says that more than six percent of all homes sales last year were flips.
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