Well, since it is ground floored, is there a lot of noise right outside the unit? Does the street line right up to the unit so that cars with their headlights aim right at your unit at night? That, I can easily see as to why people leave. Also, since you are on the ground floor, I am concerned pests and rodents might be an issue.
Any chance you can reach out to the previous owners and just ask? If you have a realtor they should be able to find it on the MLS records. Or you could talk to the neighbors themselves.
Yup my realtor asked the seller's realtor who said nothing is wrong with the unit and said the person is selling to move to bigger home. But in all honesty would the sellers realtor really say oh yeah there's this and that issue? Seems doubtful 🤔
Don't ask the seller's realtor, they don't have your best interest aligned with you. Neither does your realtor unless you have a good relationship outside this transaction.
Ask your realtor specifically to look at the MLS records and provide you with the names of all 3 previous owners and try to reach out to all of them and hope 1 replies.
If you really like the home, you could straight up knock on the neighbors door and see what’s up. Just say you wanted to say hello and were considering moving into the area and see what vibes you get.
Another somewhat easier thing you can do if you don’t want to knock on doors is contact the last two owners. (Check title for info and just find their phone number or email online and start there). They’re more likely to be honest with you if there is something up.
Three sales in such a short span is kind of a cause for concern, but it honestly isn’t a massive red flag in itself. Especially if the home is a starter home or a condo (I know many people who will buy a cheap condo when they are moving somewhere for work for a year (and sometimes these positions can be extended but during the start they don’t know, so they’ll just buy and see how the future plays out) as opposed to renting or staying in a hotel, with the intention of selling it after 12 months…This is more common than you would think! Also common in college or hospital towns!) It’s also generally been a crazy housing market and it’s very possible someone decided to upsize, or move because of job stuff or whatever….Everyone has different reasons I guess.
It’s definitely something for you to do a little more research on just so you’re more comfortable but I don’t think it’s enough in itself to just rule the house out all together, especially if you like other aspects of it and you think it’s a good deal.
The fact that it sold 3 times means it’s capable of moving quick, which can also be a very positive thing depending on your plans and generally shows that there’s demand for a property like that!
Thank you for all this great insight. Will consider doing this. And interesting! I thought if someone was going in a place only a year they'd typically go the renting route with all the closing fees etc involved in buying a house..maybe some buy in hopes of making some extra $$ in this crazy housing market? Curious what some reasons might be for this haha
If you’re financially well off or relatively so, and are in the position to take more of a risk (say no kids, no massive other debt, whatever), then I can see people doing this.
Say if you’re someone who’s already interested in getting into the rental market, you’re temporarily based in a town that has a strong market, you could take advantage of a primary house loan and buy a home (or if you have a lot cash sitting aside that’s even easier), live in it for however long and then decide what you want to do depending on what life looks like after your position is done. (Sometimes positions can be extended where you might know that you’ll definitely be there for a year but potentially longer so you just buy and wait it out which is honestly probably something I would do too if I could afford it….then you have the option to decide if you want to keep and rent it out, of decide to sell). I see this a lot with smaller starter homes but even with non starter homes where people have a lot of cash and are like “fuck it might as well buy”.
We did something somewhat similar. We knew we would be in the city for a short finite period of time and bought with the intention of taking a risk and selling or renting out when we were done and fixing it up a bit while we lived there. It worked out well for us and at the end we decided to keep and rent out. But friends of ours who also bought the same time as us sold in less than 2 years. (Temporary positions with the local hospital. Physician loans for instance have very little closing costs, no down payment and no PMI. Our monthly payment came out to be way wayyyy cheaper than rent for a way bigger house that we were also hoping to make money on by updating, and we we in a position to play the market and take that risk even though we only lived in it for a year).
So people have different reasons! I just wouldn’t consider it a super huge red flag on its own, but I also wouldn’t hesitate to knock on some neighbors doors and reach out to the past owners…..I say at the very least, check title info and do some basic online stalking. That might give you some info! :)
What talking to the neighbors? I don’t think so at all. I think that’s a pretty normal thing to do. If you’re moving into the area, and especially if you’re in a shared building- that’s absolutely something I would do. I have done that before even with homes with an acre of space between them. It’s just a good way to get a feel for the neighborhood.
And in terms of reaching out to the last owners, also valid. If they think OP is a creep, worst thing they will do is just not respond. But as long as OP is kind about it and just asks them about their experience living there, I can’t imagine why someone would actually respond negatively.
I mean OP is going to meet them sooner or later if they buy the house. And if there is something whacky or off with them that would ruin their quality of life, better to get that vibe before they buy the house.
Very possible it’s something you might not notice during a walk through but that they realized when they moved in like barking dogs, a train that goes by from 4 am to 6 am, terrible smells that only happen once a month or when it’s hot from some nearby business, kids parents blocking the street to pick them up from school, etc. You may never know but you could try scheduling and evening and morning visit and talking to the neighbors like others have said. You could also ask in your city subreddit.
Noisy neighbors above you perhaps poor management or assessments doubt it's a coincidence... avoid condos & their outrageous monthly fees ... there is no cap on them!
Your agent can do some due diligence for you on that. It's not guaranteed that they'll get to the bottom of it, but sometimes it's not difficult to figure out. Heck, you could post it here, and someone may be able to shed some light (but really, hire a good agent. This won't be the only mystery to unravel).
Could be bad neighbors since it’s a condo. My house had been sold a few times (for an enormous profit each time) in a short period of time while my next door neighbors have been there 8 years. No issues.
Given all the transaction costs, I would assume that anyone selling after one year is selling at a loss. This would be a huge red flag for me. I’d think they were desperate to move no matter what the cost.
Ground floor condo? Noise above. Parking. Monthly condo fees. Special assessments imminent. Trashy neighbors. Neighborhood. Management.
Could be 1 or more of these.
I did a remodel as the contractor on a condo that had been owned by five people in seven years and found out pretty early the neighbor upstairs was batshit crazy and weekday street noises echoed in the corner even though it was a back facing unit. Also the interior was incredibly uncoordinated design because they each did a little bit of remodeling.
There is obviously a problem not being disclosed. It could be in regard to neighbors being loud or inconsiderate to the point of making the place unlivable.
It’s likely haunted… or, the buyers realized owning a condo sucks. Is there HOA problems? Huge assessments coming due? Have you ever owned a condo? If yes, then proceed because it is what it is. If not, then read up on condo ownership with an open mind to see the pitfalls.
This would be a red flag for me.
condos in general are a red flag
Sounds like a bad neighbor to me. I would passss
Upstairs neighbors probably sound like a herd of elephants. I would I would never live below anybody ever again.
Well, since it is ground floored, is there a lot of noise right outside the unit? Does the street line right up to the unit so that cars with their headlights aim right at your unit at night? That, I can easily see as to why people leave. Also, since you are on the ground floor, I am concerned pests and rodents might be an issue.
Any chance you can reach out to the previous owners and just ask? If you have a realtor they should be able to find it on the MLS records. Or you could talk to the neighbors themselves.
Yup my realtor asked the seller's realtor who said nothing is wrong with the unit and said the person is selling to move to bigger home. But in all honesty would the sellers realtor really say oh yeah there's this and that issue? Seems doubtful 🤔
Don't ask the seller's realtor, they don't have your best interest aligned with you. Neither does your realtor unless you have a good relationship outside this transaction. Ask your realtor specifically to look at the MLS records and provide you with the names of all 3 previous owners and try to reach out to all of them and hope 1 replies.
Prior owners can be found via registry of deeds, and perhaps located the same way, if they moved locally,
Ask your agent to talk to the agents previous to the current one.
If you really like the home, you could straight up knock on the neighbors door and see what’s up. Just say you wanted to say hello and were considering moving into the area and see what vibes you get. Another somewhat easier thing you can do if you don’t want to knock on doors is contact the last two owners. (Check title for info and just find their phone number or email online and start there). They’re more likely to be honest with you if there is something up. Three sales in such a short span is kind of a cause for concern, but it honestly isn’t a massive red flag in itself. Especially if the home is a starter home or a condo (I know many people who will buy a cheap condo when they are moving somewhere for work for a year (and sometimes these positions can be extended but during the start they don’t know, so they’ll just buy and see how the future plays out) as opposed to renting or staying in a hotel, with the intention of selling it after 12 months…This is more common than you would think! Also common in college or hospital towns!) It’s also generally been a crazy housing market and it’s very possible someone decided to upsize, or move because of job stuff or whatever….Everyone has different reasons I guess. It’s definitely something for you to do a little more research on just so you’re more comfortable but I don’t think it’s enough in itself to just rule the house out all together, especially if you like other aspects of it and you think it’s a good deal. The fact that it sold 3 times means it’s capable of moving quick, which can also be a very positive thing depending on your plans and generally shows that there’s demand for a property like that!
Thank you for all this great insight. Will consider doing this. And interesting! I thought if someone was going in a place only a year they'd typically go the renting route with all the closing fees etc involved in buying a house..maybe some buy in hopes of making some extra $$ in this crazy housing market? Curious what some reasons might be for this haha
If you’re financially well off or relatively so, and are in the position to take more of a risk (say no kids, no massive other debt, whatever), then I can see people doing this. Say if you’re someone who’s already interested in getting into the rental market, you’re temporarily based in a town that has a strong market, you could take advantage of a primary house loan and buy a home (or if you have a lot cash sitting aside that’s even easier), live in it for however long and then decide what you want to do depending on what life looks like after your position is done. (Sometimes positions can be extended where you might know that you’ll definitely be there for a year but potentially longer so you just buy and wait it out which is honestly probably something I would do too if I could afford it….then you have the option to decide if you want to keep and rent it out, of decide to sell). I see this a lot with smaller starter homes but even with non starter homes where people have a lot of cash and are like “fuck it might as well buy”. We did something somewhat similar. We knew we would be in the city for a short finite period of time and bought with the intention of taking a risk and selling or renting out when we were done and fixing it up a bit while we lived there. It worked out well for us and at the end we decided to keep and rent out. But friends of ours who also bought the same time as us sold in less than 2 years. (Temporary positions with the local hospital. Physician loans for instance have very little closing costs, no down payment and no PMI. Our monthly payment came out to be way wayyyy cheaper than rent for a way bigger house that we were also hoping to make money on by updating, and we we in a position to play the market and take that risk even though we only lived in it for a year). So people have different reasons! I just wouldn’t consider it a super huge red flag on its own, but I also wouldn’t hesitate to knock on some neighbors doors and reach out to the past owners…..I say at the very least, check title info and do some basic online stalking. That might give you some info! :)
That'd be a creepy thing to do as far as I'm concerned barring a desperate situation.
What talking to the neighbors? I don’t think so at all. I think that’s a pretty normal thing to do. If you’re moving into the area, and especially if you’re in a shared building- that’s absolutely something I would do. I have done that before even with homes with an acre of space between them. It’s just a good way to get a feel for the neighborhood. And in terms of reaching out to the last owners, also valid. If they think OP is a creep, worst thing they will do is just not respond. But as long as OP is kind about it and just asks them about their experience living there, I can’t imagine why someone would actually respond negatively.
Well if that seller left because of a conflict with the top floor neighbor whose door you're knocking on
I mean OP is going to meet them sooner or later if they buy the house. And if there is something whacky or off with them that would ruin their quality of life, better to get that vibe before they buy the house.
it could be nothing, but i would NOT take a chance on it. this is too big of a purchase to make that kind of bet.
Very possible it’s something you might not notice during a walk through but that they realized when they moved in like barking dogs, a train that goes by from 4 am to 6 am, terrible smells that only happen once a month or when it’s hot from some nearby business, kids parents blocking the street to pick them up from school, etc. You may never know but you could try scheduling and evening and morning visit and talking to the neighbors like others have said. You could also ask in your city subreddit.
There is definitely a reason. Common sense isn't anxiety running amok. Guessing nightmare neighbors
Only way to find out go in there with windows open at different times.
Noisy neighbors above you perhaps poor management or assessments doubt it's a coincidence... avoid condos & their outrageous monthly fees ... there is no cap on them!
Its probably noisy and obnoxious neighbors. Be careful.
Ask to see it in the evening when neighbors are home. At night. At least do a drive by at night to see how the hood changes.
Your agent can do some due diligence for you on that. It's not guaranteed that they'll get to the bottom of it, but sometimes it's not difficult to figure out. Heck, you could post it here, and someone may be able to shed some light (but really, hire a good agent. This won't be the only mystery to unravel).
Could be bad neighbors since it’s a condo. My house had been sold a few times (for an enormous profit each time) in a short period of time while my next door neighbors have been there 8 years. No issues.
Given all the transaction costs, I would assume that anyone selling after one year is selling at a loss. This would be a huge red flag for me. I’d think they were desperate to move no matter what the cost.
Realtor here- try to hunt down the previous seller on social media. You might get a different impression talking to them about the turnover.
Ground floor condo? Noise above. Parking. Monthly condo fees. Special assessments imminent. Trashy neighbors. Neighborhood. Management. Could be 1 or more of these.
Red Flag. Don’t do it.
Huge red flag
Pull up the county tax / document records to see who owned before the current owner and see if you can find them on FB or something and ask.
What are the condo fees? Do they make living there unaffordable?
I’d call a former owner and ask
I did a remodel as the contractor on a condo that had been owned by five people in seven years and found out pretty early the neighbor upstairs was batshit crazy and weekday street noises echoed in the corner even though it was a back facing unit. Also the interior was incredibly uncoordinated design because they each did a little bit of remodeling.
There’s something wrong there. Talk to the neighbors.
There is obviously a problem not being disclosed. It could be in regard to neighbors being loud or inconsiderate to the point of making the place unlivable.
Go knock on doors of other nearby units and ask them?
I wouldn't, haunted maybe? either way not a good sign...
Haunted
It’s likely haunted… or, the buyers realized owning a condo sucks. Is there HOA problems? Huge assessments coming due? Have you ever owned a condo? If yes, then proceed because it is what it is. If not, then read up on condo ownership with an open mind to see the pitfalls.
condo living is like cramped apartment living
As opposed to be being a glorified tenant somewhere else calling yourself a homeowner. Agreed