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dreen | 2 years ago

And it got sold! I happen to remember this

https://www.bbc.com/news/world-us-canada-64389615

I suppose leading with a picture of it actually on fire is better than a post or pre fire photo.

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hinkley|2 years ago

Our old house had problems. When we listed it, the best prospect thought we were stupid not honest, so he kept trying to get us to lower the price when inspection turned something up. In retrospect maybe a picture with the proverbial roof on fire might have been a good idea.

Here's the thing about getting a house loan: If you try to buy a house for too far under or over market value and can't explain why it's that far under market value, it sets off all sorts of red flags for lenders. Before we bought that house we passed on another because it was a unicorn in its neighborhood and our agent was having a terrible time coming up with documentation of comparable listings in a reasonable distance from the house. And then I discovered water damage and we bailed.

If you buy it for 15% under market and have a bunch of inspections that say why, that's less of a problem.

robocat|2 years ago

In New Zealand, houses can be sold “as is” which means cash only. It usually means that insurance cannot be acquired for the house, and mortgages always require insurance. It means there are bargains still available in my city (Christchurch) because there were so many houses damaged by the earthquake a decade ago. There are still houses that are about 2/3 the price compared to similar insurable houses. Few people can buy the as-is properties because most people need a mortgage to buy a house. People with cash usually buy better houses. A saw an as-is sold the other day to a buyer from the US.

Insurance policies have some queer rules that all insurers share - perhaps due to building code, or maybe due to a common reinsurer?

Your floor cannot have more than 50mm (two inches) drop between two corners of the house, as it can’t be insured. Unless you can show the unlevel floor existed pre-earthquake, in which case you can get insurance! Wierd.

zirgs|2 years ago

Of course it got sold. The seller was completely honest about the condition of the property.

LanceH|2 years ago

You're going to have to disclose the fire. May as well use it to get lots of people looking if you're confident in the rebuild.

I do like imagining trying to sell it during the fire based on apparent damage done and the perceived capabilities of the fire dept. in stopping it.

meshaneian|2 years ago

How did they not say "fire sale"??

TheHappyOddish|2 years ago

> The pair - natives of North Manchester in the United Kingdom who now live in Houston, Texas with their three children - had been searching for homes near Nashville, Tennessee when they came across the property.

Why is the BBC clarifying what country Manchester is in but omitting where Tennessee is? Very strange for a British publication.

pessimizer|2 years ago

Property in Franklin, Tennessee is obscenely expensive, for no good reason.