Hey everybody, John Herman here with Property Up.
Today, I’m inside a property that’s flipper purchase. What that basically means is that they bought the house for a good value and they upgraded it with some new equipment. We’re talking about cabinets, a refrigerator, stove, new flooring, and paint, just to show you a bit of it.
However, in this video, I’d like to show you something in the basement that would be pretty important for anybody to know when buying a bank-owned property. It’s something that you might not notice if you’re working with someone that lacks experience in this business.
Other than being unfinished, it looks like a pretty standard basement that you’d expect in a property like this. But if you take a closer look, you’ll see that there’s a serious issue.
You can see a line going all the way around the basement walls. And if you look at the tin, you can actually put your finger on a distinct edge. Believe it or not, that’s actually a water line. These lines tell us that there were two and a half feet of water in this basement at some point.
It seems like they put in a French drain system that took the water out. You can see that it filters back to the drain in the corner, and it pumped the water out.
Apparently, there’s a lot of water pouring into this drain system, or there could be something else going on that we don’t know about. Like there could be a spring near the house, or maybe issues with the drainage system.
Either way, it’s important to note that this basement had two and a half feet of water at some point, and if you’re working with an inexperienced agent, you may not have noticed that. It’s essential to have the right person helping you when you’re looking at houses to purchase so you can identify vital issues like water damage, or others.
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Again, this is John Herman with Property Up, and I hope you found this video helpful. You have a great day!