No Ragrets

Apparently, some young homebuyers got caught up in the house buying frenzy of 2020 and didn’t do basic due diligence.  Some of the stories are quite unfortunate, (New York Times)

Ms. Holloway said she helped a family move this summer after discovering that the Hamptons house they had just bought had an infestation of wasps nests in the backyard. The family didn’t find the wasps until after closing because they had waived the inspection in the midst of a bidding war

and this one

They closed on the hillside house in November. When they returned a few weeks later to move in, “we see all these holes in the siding,” Mr. Weiss said. On closer inspection, they found that the wood on one side of the house was “absolutely devastated,” with some 90 holes in it. It turned out that the culprits were acorn woodpeckers living in the large oak trees surrounding the house. “Come to find out, it’s a systemic problem in the neighborhood,” Mr. Weiss said. The seller hadn’t said anything about the birds, he said, and coming from Brooklyn, he and his wife didn’t know to ask. Since then, they have tried various deterrent devices and consulted with exterminators, but the only permanent solution is to replace the home’s wooden siding with cement at a cost of roughly $150,000.

Let this be a lesson to you all.  No matter how frenzied things get, always do basic due diligence.  Don’t skip the inspections or the proper time getting to know the property and neighborhood.  The old adage, buyer beware, exists for all items.  Even houses.