Hello DG Members,
I was driving home from work today and I decided to take the other road home. I almost forgot about a very interesting story that I want to share with you. I recalled this story as I drove by an empty commercial lot.
Several weeks ago, I had a Bank Owned REO home on a commercial lot near other large commericial businesses on my radar. Based on the price I thought the home had potential, as well as, the commerical lot it sat on was in a great location. Thus, I contacted the listing broker and he stated tha the listing was no longer his listing.
Thus, the next day I drove by the home and it was listed with another real estate broker. I called the agent to inquire about a few questions and to scheule an appointment to see the home. The agent answered my questions and then stated they did not have keys yet but would call me back in a few days. I drove by the home the next day and took an outside walk around the home. Later in the day the agent stated they could show me the property within the next 2 days because they had the keys.
It was less than 12 hours later, that I decided to ride by the home on my way home from work. Believe it or not the entire home (Yes, the entire home) was gone! I thought are my eyes playing tricks on me? Did someone steal the home? There was not even a piece of wood remaining on the lot. The lot was so clean and the grass did not even have any tire marks. The home must have disappeared into thin air. It appeared as though the home was lifted straight up and moved off the lot! I could not believe it. I did not know whether to laugh or cry over a deal I missed. The only thing that remained was the square dirt patch where the home was 12 hours earlier!
Thus, I called the agent and they thought I had the wrong address. I told them the home was here this morning but now it was completely gone. The agent still did not believe me. Thus, I stated I can meet you here tomorrow to view the home, but I can assure you it is not here.
The agent called me back the next day to inform me the local town had knocked down the home because it was vacant and becoming an eyesore in the community. The agent apologized for my inconvenience. I could not believe it.
Thus, the moral of the story is make sure you always go for that final walk through on each property acquisition or drive-by the home before you close on the deal. Believe and Achieve! - Joe
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Joe Jurek CPA