Typical "condition" of a recently gut renovated townhouse in Brooklyn

Hi All! Curious if others can shed some light on how an inspector graded their home if it was a recently gut renovated townhouse. Is it common for it to be considered “Fairly Good to Fair Condition”? Our inspector laid out a list of things that should/can/will be fixed and mentioned in the cover letter that if this happens he would grade the structure as “Good to Fairly Good Condition”. Is this consistent with what other people have seen? Thanks!

Guest User | 7 years and 5 months ago

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EJR | 7 years and 4 months ago

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Consider either asking the seller/developer to put you in touch with owners of other properties he’s flipped or trying to find and contact them on their own to see what their experiences are. Apropos of little, there is a small-scale developer who flips houses in my neighborhood, including one in my row (i.e., same layout) and he seems to actually take care to do it right. Generally speaking, like no-permitz, I would be reluctant to buy a flip, though I might buy from the guy in my neighborhood.

robertbullock | 7 years and 4 months ago

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Echoing comments above, be very careful. Your inspector won’t be able to see under the hood and some contractor-sellers, especially of gut renovations, are notorious for their poor work. In that regard, one RE pro taught me a very useful word: “Masada-fication”. Look at the quality of the visible finishes (and the garishness of the newly installed chandeliers!) as a rough proxy. Use an inspector by all means, but once you have looked at a few houses you should be able to do this yourself.

resident2 | 7 years and 5 months ago

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This is why as a buyer you should take the time to attend the inspection; not just wait for the report. If you attend the inspection you can clarify what what “fairly good” means.
Just because a building has been “gut renovated” does not mean that the work was done well or even with the correct materials etc.
I have seen some real fiascoes recently sold as “gut renovated”.

yudashasom | 7 years and 5 months ago

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> @ohboywhatabeer
> Trying to find out if the builder/architect/seller did a good job on the renovations and if we should be concerned if the inspector rated it as “Fairly Good to Fair Condition.”

That’s not a question that can be answered here. What does your inspector say about the quality of work/issues? “Fair good to fair condition” does’t really mean anything without knowing what he referenced. Keep in mind, flips, if this is one, are usually done as cheap as possible. Maybe they use nice tiles and appliances, but what about what’s behind the walls? I’d personally never buy a flip.

EJR | 7 years and 5 months ago

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@ohboywhatabeer, to what end? If you have already purchased the house then you are likely going to just drive yourself mad (unless you have some recourse to the previous owner, which I doubt). If you are considering purchasing the house, then take to heart what the inspector found, consider if it’s something you are willing to deal with and factor it into your offer.

Guest User | 7 years and 5 months ago

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@no-permitz , I’m asking what is typical for a recent gut renovated. I know that “Good” is the highest designation that inspectors can give for this type of property. Trying to find out if the builder/architect/seller did a good job on the renovations and if we should be concerned if the inspector rated it as “Fairly Good to Fair Condition.”

RobertGMarvin

in General Discussion 7 years and 5 months ago

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Unfortunately a house recently gut renovated by the typical flipper may not be in especially good condition.

yudashasom | 7 years and 5 months ago

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I don’t really follow.

What kind of inspector was this and what was the inspection for?

I’m assuming this is an old building. I think any old building, even when renovated, could only be called “good”. I don’t think there is such a thing as an old building in “excellent” condition. They all need something, or many things.