real estate

Buying a flipped home? 5 questions to ask

What's the home's history?
What's the home's history? © wavebreakmedia/Shutterstock.com

You want to know how often the house has been sold. Were there any quick sales with a big uptick in price?

A home that sold on the low side of market value, then was resold six months later at the high end of the spectrum, could indicate a flip, says Patricia Szot of Keller Williams Realty Lake Cities in Garland, Texas.

Also, if the sellers have flipped a few homes, they have a track record, says Szot. So get the names of earlier buyers and talk with them. Ask the buyers if all the homes' systems worked when they moved in and whether they discovered hidden problems.

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