We are interested in a house, our buyer agent sent us the history report. To our surprise, the six year old house has been sold 4 times. Particularly, the last previous two owners (including the current owner) decided to sell it one year after their purchase.
How can I find out the true reasons behind the frequent ownership change. BTW, The house is a relatively high end house.
This is fairly uncommon, but there could be plenty of explanations. Residents in training, loss of a job, change in a job. I think you have to do your due diligence in working with a Realtor to see why this has happened. When you say "highend" this could mean that owners were in the relocation scenario with companies or hospitals. Just my thoughts. Any questions, 235-5115
Mike Adler
Restaino and Associates
It could be that physicians-in-training have been purchasing the house (and then selling it to incoming trainees). If someone is doing a one year program, that could explain the turnover.
We often tell customers with this type of concern that they should invest some time is visiting the neighborhood for evening walks and take advantage of the opportunity to visit with other residential strollers. It's amazing the information that can be gained......it may also help you get a more accurate feel for the community.
The number of sales in a given period of time is not necessarily an indication of an inferior property. But that's why inspection contingencies are always a wise investment. Depending on whether it was new construction, the first "purchase" may simply have been for the lot. As an upper-bracket property, the buyers were more than likely corporate executives who are routinely transferred by their companies to other cities. Good luck. -M.
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