Have you ever watched a house in your neighbourhood being renovated and you can just tell that it’s not being done well? It’s excellent fodder for reality TV personality Mike Holmes, but a house that’s been renovated either cheaply or quickly might turn out to be a lemon. So, if you’re a buyer, take precautions before that amazing deal goes sour.
What is a flip?
A home that is purchased, renovated and put back on the market in short order is a flip. These homes can be problematic because they are often given a cosmetic facelift without regard to good workmanship. The individuals or companies that flip homes capitalize on the potential buyer’s lack of understanding of what’s behind the walls. If it looks shiny and new it might hide the fact…
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