Get a Fair Deal When Buying a Flipped Home – @Redfin
If you plan on buying a home in the near future, chances are you’ll come across a flip in your search.
2013 was a banner year for house flippers. They grossed an average of $90,200 per flipped home across major U.S. housing markets, according to Redfin research. This is not surprising since housing inventory was notoriously tight and demand led to unprecedented bidding wars in 2013.
In other words, flipping came easy.
As we enter the final months of 2014, however, there are more homes for sale and buyers have more leverage when it comes to getting a fair price. Here’s how to know if a home is a flip and to make sure you get your money’s worth if you are considering buying a flipped home.