Is this a joke/parody of the current housing market?

[Anonymous]

Anonymous wrote:I don't get it. Is there a squatter? Or is it some type of verbal rental? It makes no sense.

My guess - someone has inherited this home or inherited responsibility for it after a relative has passed or has had to go into some kind of elder care situation. They want to unload it ASAP. Tenant has been in place forever or is another relative/friend, maybe housekeeper and current owner can't or won't evict.

It's cash only because they want a flipper or LLC to buy it, they can deal with the tenant, and then flip and sell.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Houses in that neighborhood tend to be listed in the high 8s and sell for low 9s. Something like that. I think 800k in that neighborhood is not much of a discount. Of course it can be torn down by someone who doesn’t mind being the outlier with a mmillion plus dollar home in an under million dollar neighborhood (for the most part).

Soon the mantuans will come out to fiercely defend their neighborhood and say how the oil spill happened so so long ago and nevermind it was a superfund site but your neighborhood is probably must as bad. Gotta protect those property values!

In the past 3 months, median home sale value in Mantua was $1M. 35% of homes sold in the last year were $1M or more. If fixed up, it would not be an outlier at all. I would guess this particular house would sell for about $1M if it was in good condition.

I have two sets of friends that bought in Mantua 5-6 years ago. At that time, comparable, updated houses in good condition were going for $850-900k.

While I agree that THIS house is not a bargain at $800k, if it was in good condition/updated it would go for far more.

[Anonymous]

Anonymous wrote:

AgentX wrote:Ok you guys, I called. I have a client looking in that area so it was worth a shot. But they won't touch this one with a 100 foot pole.

Owner of property is dying, estate is not in order. They are trying to not take it to probate which will happen if the owner dies. Kids are running things for now via the POA. Overall condition wouldn't pass appraisal, she said it's in better shape that she expected but there is wood rot, peeling paint. Wood floors have pet damage. I didn't hear anything that indicated it wouldn't pass appraisal but I'll assume that she knows better than I do on this since she's been inside.

Tenant is not a family member. She weasled her way in on the premise of helping the owner. I assumed this was the case, this happens a lot.

The tenant has a young kid and no lease, so eviction is going to be interesting. Tenant also apparently has lots of late-night visitors who come and go. So she's a scam artist it sounds like.

Ugh that tenant/squatter is annoying. So frustrating. I can’t stand this. And it will be hell to get them out.

Wow. No one has reported this woman to CPS? The house must be a disaster. And what about elder abuse? Prison for one and foster care for the other would take care of the problem.

[Anonymous]

AgentX wrote:Ok you guys, I called. I have a client looking in that area so it was worth a shot. But they won't touch this one with a 100 foot pole.

Owner of property is dying, estate is not in order. They are trying to not take it to probate which will happen if the owner dies. Kids are running things for now via the POA. Overall condition wouldn't pass appraisal, she said it's in better shape that she expected but there is wood rot, peeling paint. Wood floors have pet damage. I didn't hear anything that indicated it wouldn't pass appraisal but I'll assume that she knows better than I do on this since she's been inside.

Tenant is not a family member. She weasled her way in on the premise of helping the owner. I assumed this was the case, this happens a lot.

The tenant has a young kid and no lease, so eviction is going to be interesting. Tenant also apparently has lots of late-night visitors who come and go. So she's a scam artist it sounds like.

OP here. Wow, thanks for the juicy scoop! Very sad how these pro scam artists target the elderly. What an example to set for her young kid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Houses in that neighborhood tend to be listed in the high 8s and sell for low 9s. Something like that. I think 800k in that neighborhood is not much of a discount. Of course it can be torn down by someone who doesn’t mind being the outlier with a mmillion plus dollar home in an under million dollar neighborhood (for the most part).

Soon the mantuans will come out to fiercely defend their neighborhood and say how the oil spill happened so so long ago and nevermind it was a superfund site but your neighborhood is probably must as bad. Gotta protect those property values!

In the past 3 months, median home sale value in Mantua was $1M. 35% of homes sold in the last year were $1M or more. If fixed up, it would not be an outlier at all. I would guess this particular house would sell for about $1M if it was in good condition.

This! Homes in Mantua are super hot and go for over $1M. And there's a lot of new construction of $1.7M++ Craftsman houses, so it wouldn't be an outlier.

[Anonymous]

Cash offers only because it will never appraise, and no title company will insure with an unquiet title due to squatter. The most they can convey is a quitclaim deed, and anyone who buys this nonsense deserves what they get.

[Anonymous]

Sounds like the kids need to take some more time to sort all this out. Yes, they’ll have to deal with probate because there’s no will, but they could sell it as an estate sale. Don’t know if mom has a mortgage, steep medical bills from her illness, or something like that. Also don’t know how long it takes to evict somebody. But the heirs might come out ahead if they were willing to spend more time on this.

[Anonymous]

Wow. It has this distinct Grey Gardens feel to it.

[Anonymous]

I lived next to a house with a story like this back in grad school. The circumstances are often quite complicated. In that case, the woman had lived there for many years and claimed (rightly or wrongly I do not know) that they had been told that they would inherit the property. Unlike in this case, the owner was no longer living, and did not leave a will, so the property dispute was as to whether the current occupant was the rightful inheritor of the property or if the owner's adult children were. The resident was certainly not what I would think of as a scammer; she was illiterate, had a mental disability, and did some things that made her an annoying neighbor, but she was very kind. As best I could tell, she didn't even want to live in the property anymore, and was trying to leave the area, but if she ceased to occupy the house she worried that it would damage her legal case to own and thus get the proceeds from selling the property. Last I heard, she had left for awhile and the property went up for sale, but then she mysteriously reappeared living there one day.

In this case, it does sound like the power of attorney gives a lot more leverage to the adult children of the owner. It's certainly very likely that the existing squatter is a deliberate scammer, but I would not assume that it's the only possibility. I also wouldn't assume that it will be a straightforward eviction case for the person who buys the property.

[Anonymous]

Anonymous wrote:

AgentX wrote:Ok you guys, I called. I have a client looking in that area so it was worth a shot. But they won't touch this one with a 100 foot pole.

Owner of property is dying, estate is not in order. They are trying to not take it to probate which will happen if the owner dies. Kids are running things for now via the POA. Overall condition wouldn't pass appraisal, she said it's in better shape that she expected but there is wood rot, peeling paint. Wood floors have pet damage. I didn't hear anything that indicated it wouldn't pass appraisal but I'll assume that she knows better than I do on this since she's been inside.

Tenant is not a family member. She weasled her way in on the premise of helping the owner. I assumed this was the case, this happens a lot.

The tenant has a young kid and no lease, so eviction is going to be interesting. Tenant also apparently has lots of late-night visitors who come and go. So she's a scam artist it sounds like.

Sad, we need more rights to evict squatters and tenants, we forget the true victims the owners and landlords. If you are a squatter or deadbeat tenant you should go to jail and be banned for a set amount of time and be forced to be damages.

Its VA. You have numerous rights already. If this was D.C. the owner would have to pay the tenant at least $30,000 to get them out on top of the eviction process.

[Anonymous]

Let’s take this one step further: would anyone buy a house like this if it were In Shaw / Georgetown / cleaveland park knowing that you’d get the house for $350,000 to $500,000 under price market? Anyone willing to put up with a squatter in order to get into their dream neighborhood ?

[Anonymous]

Anonymous wrote:Let’s take this one step further: would anyone buy a house like this if it were In Shaw / Georgetown / cleaveland park knowing that you’d get the house for $350,000 to $500,000 under price market? Anyone willing to put up with a squatter in order to get into their dream neighborhood ?

Toss the squarer out. Person leaves, board up the entrance and nail it shut. Good luck to them convincing anyone they had a right to live there with zero paperwork. Toss all their stuff in a dump.

[Anonymous]

Anonymous wrote:I lived next to a house with a story like this back in grad school. The circumstances are often quite complicated. In that case, the woman had lived there for many years and claimed (rightly or wrongly I do not know) that they had been told that they would inherit the property. Unlike in this case, the owner was no longer living, and did not leave a will, so the property dispute was as to whether the current occupant was the rightful inheritor of the property or if the owner's adult children were. The resident was certainly not what I would think of as a scammer; she was illiterate, had a mental disability, and did some things that made her an annoying neighbor, but she was very kind. As best I could tell, she didn't even want to live in the property anymore, and was trying to leave the area, but if she ceased to occupy the house she worried that it would damage her legal case to own and thus get the proceeds from selling the property. Last I heard, she had left for awhile and the property went up for sale, but then she mysteriously reappeared living there one day.

In this case, it does sound like the power of attorney gives a lot more leverage to the adult children of the owner. It's certainly very likely that the existing squatter is a deliberate scammer, but I would not assume that it's the only possibility. I also wouldn't assume that it will be a straightforward eviction case for the person who buys the property.

True, PP. We have no idea what’s going on with this person. It’s obviously a terrible situation.

[Anonymous]

Yes, it’s so awful-sounding!
23K views

[Anonymous]

Anonymous wrote:I lived next to a house with a story like this back in grad school. The circumstances are often quite complicated. In that case, the woman had lived there for many years and claimed (rightly or wrongly I do not know) that they had been told that they would inherit the property. Unlike in this case, the owner was no longer living, and did not leave a will, so the property dispute was as to whether the current occupant was the rightful inheritor of the property or if the owner's adult children were. The resident was certainly not what I would think of as a scammer; she was illiterate, had a mental disability, and did some things that made her an annoying neighbor, but she was very kind. As best I could tell, she didn't even want to live in the property anymore, and was trying to leave the area, but if she ceased to occupy the house she worried that it would damage her legal case to own and thus get the proceeds from selling the property. Last I heard, she had left for awhile and the property went up for sale, but then she mysteriously reappeared living there one day.

In this case, it does sound like the power of attorney gives a lot more leverage to the adult children of the owner. It's certainly very likely that the existing squatter is a deliberate scammer, but I would not assume that it's the only possibility. I also wouldn't assume that it will be a straightforward eviction case for the person who buys the property.

My what a crazy story. So in return for being a live in caretaker for the old person, they thought they’d be inheriting the property?