When you buy an older home that one person has lived in for a long time, that home often needs a lot of updates.

Sometimes that means you can get a good deal on the home and update it yourself, but it’s always a good idea to look at the home and have an inspector look at the home before signing any paperwork.

In today’s story, one investor buys a house without looking at it first, and it really backfires for her but works out well for the seller!

Let’s read the whole story.

investor wants to buy my house way over market value? sure no problem!

background: my parents and their neighbor bought homes in an up and coming part of florida 20 years ago…talking 1/2 acre lots with 2500 square foot homes for like $130,000.

Our neighbors home was a little smaller than my parents, no pool, and over the 20 years the only thing done to the house was a new roof.

Nothing else had been changed; everything was still the original – appliances, paint, ac unit, cabinets, tile and carpet.

I wish i could say she took care of it and never needed to change things, but that wasn’t the case….or neighbors house looks 20 years old.

It didn’t seem to matter that the neighbor didn’t update their home.

Well she is a widow and the house is huge for just her, so she decided to sell and take advantage of the market.

She listed it for $400,000.

Despite her never having put a penny into it, the house goes on a bidding war, and the top bidder is an investor from california.

She offers to pay $30,000 over asking, pay the closing costs, and can do it same day.

The woman bought the home sight unseen.

Cue malicious compliance.

The investor woman had two stipulations: our neighbor takes the house off the market immediately, and she turns over the key to her management company with the cash for the home held in escrow until the key was turned over and our neighbors side of the paperwork done.

Now our neighbor was upfront with this woman and the state of the home, and asked if she wanted to have her management company come look at it first.

The woman says “no, im renting the house and it doesn’t need to be painted. just pull it off the market!” this women essentially bought the home for about $450,000 when it was all said and done.

The neighbor complies.

So our neighbor immediately goes to the management company office with her realtor, signs her paperwork, hands over the key, and gets the check for the home.

A few days later…our neighbor gets a call from investor lady.

She is irate!

The house is in disarray. in needs a paint job asap. new appliances and flooring at the least.

The neighbor refuses to comply.

She demands that our neighbor paint the house…she won’t take ownership of the home until that is done.

To which our neighbor responds to her,” it’s not my home anymore. it was signed over to you and that the check handed to me and cleared. That house is no longer my problem. enjoy!”

This story all came about because yesterday my parents called our old neighbor: there was a for sale sign on the house again and we were confused.

Our old neighbor promptly showed up and told us the story and we are all laughing hysterically because the woman has it listed for $430,000 – which anyone with eyes to tour it would never pay, and even if she did get it…she’d still be losing a ton of money.

Who doesn’t love a story when greedy investors trying to inflate the market lose and lose big?

That’s what the investor gets for buying the house without looking at it first!

Let’s see how Reddit reacted to this story.

I wonder where this home is located. That’s a lot of money for a fixer upper!

This person is tempted to sell.

Another person is sad about how much their childhood home is worth.

I could see this story being a movie!

The neighbor got a really good deal!

This market is insane.

If you liked that post, check this one about a guy who got revenge on his condo by making his own Christmas light rules.