Real Estate Investors....WHY do you do this????

Question

My hubby is 100% handicapped.

We FINALLY found a home that is 100% Handicapped-altered. (roll-in shower, wide doorways, widened sidewalk, bars for assistance in home, ceramic and wood flooring).

We make an appointment to see the house (been on market with no interest since June 13. They lowered the price by $3k, on July 24, and now 2 Investors have drawn up offers) and have been told that two offers have been submitted just this morning.

It is a plain-jane house, with winding roads to get to, built 1980, very modest neighborhood (homes under 1800 sq ft, prices avg selling $120 and under).

And what do these investors plan to do with the house?

They are going to "update" it, remove the handicapped adjustments, and turn around and sell it. Over and Over, my hubby and I just aren't "fast" enough to the rush. WHY remove the handicapped changes? Over & over we poorfolk are forced to pay for handi changes.

Do you not consider that handi changes are good?

Answer 1

greed is why they do it

but why don't you self build for the price your quoting you will build a better home

Answer 2

why not find a home you like and can afford. with real estate status now, you'll not have difficulty finding one.Bring a contractor friend with you and include in your bid the price to convert it to a"handicap -accessible" unit. GOOD LUCK !!

Answer 3

I am sorry to hear about this!  You would think with the aging and physically disabled population, someone would be smart and keep the adjustments!

I cannot speak for the investors, but hope you and your husband find a good home that is accessible for your husband.

I don´t know if this will help, but with the rate of foreclosures, could you find a home that is close to what you are looking for, and ask the seller to pay for adjustments?  If I was trying to sell my home, I would do just about anything to please the buyer instead of foreclosing.

Answer 4

I can totally understand why you’re frustrated.

Investors aren’t really thinking about you unfortunately. They’re thinking about a home that will appeal to the widest possible audience because that increases their chances of selling it. One of the key s to running a successful business is to keep your emotions out of it because emotions can cause cloud your judgment.  And the goal here is to make maximum profit.

I do agree that there will be an increase in demand for homes to accommodate a range of abilities over time, it’s just that those homes won’t necessarily appeal to the mass market. This is a niche, and niches are often ignored.

Are you working with a buyer’s agent? If not, I think that would really be helpful to you. Their commission will be paid by the seller, and they will frequently search for homes meeting your criteria – which could mean that next time something becomes available you’ll know about it fast, not after it has sat on the market for months. Don’t force yourself to work alone when free help is out there.