How To Buy A Money Pit [Did you see the movie]


Pamela Madore
Keller Williams Realty

Did you see the movie? 
 Funny Scene from the movie “The Money Pit”

The story line goes something like this.  Young lovers Walter (Tom Hanks) and Anna (Shelley Long) get thrown out of their apartment and decide to buy a country estate.  It was at a very good price and the potential was enormous.  

It just sounded too good to be true and of course it was.  

After they bought it, doors started to fall off their hinges, the staircase falls in and a bathtub falls through the floor. Naturally, city slickers that they are, they hire all the wrong people to do the repairs and the whole deal turns into a nightmare.

The best way to buy a money pit is to:
  • Watch for suspiciously low priced houses
  • Take a quick look so you can buy it before anyone else does
  • Don’t bother to look at the seller’s disclosure
  • Do not have inspections
  • Don’t notice the seller’s smirk at closing
At this point you probably don’t know you have a money pit.    It sure looks like your dream home from the outside.  
At the beginning things seems to be OK.  Home sweet home.
Suddenly you begin to notice little things like, for instance, all of the windows are painted shut.  The carpet has a faint smell to it so you decide to clean it.  The more you clean it the more these dark stains move to the top and by the time you are done it looks and smells worse than when you started.  Pet stains.
The kitchen cabinet doors won’t shut correctly.  There is a big hole in the back yard and it has a suspiciously back small to it.  There is mold all around the hot water heater that works only half of the time.
You get it?  If your profession is to rehab houses then you would look at this in a different light.  However, if you are buying a home to live in you might turn into a rehabber by default.

If you want to buy a money pit, I will help you with that.  If, however, you would like to NOT buy a money pit then as a Realtor I have lots of checks and

balances to help you know that won’t happen.  Nothing is ever 100% but with all of the back up support, we try to help you stay away from that MONEY PIT.


Call today, or text, or email.  Let me protect you from a money pit.

Pamela Madore
Keller Williams Realty
Executive Against Money Pits
3955 S. Soncy
Amarillo, TX 79119

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