Too many sales a red flag?

5 Replies

A property popped up on the MLS that I'm interested in, but I'm seeing what I think is a red flag. In the past 15 years, it has sold 7 times, not counting 2 foreclosures. It's a duplex in Minneapolis, so easily rentable.

Would this be a red flag to you? Anyone have a guess as to why so many sales may have happened? 

Where are you seeing the past sales info and are you sure it's accurate?  Websites like Zillow and even county records will sometimes show a "sale" anytime title transfers or for other reasons.  It could be 

1. An Actual Sale 

2. Individual transferring into LLC

3. Co-owners, one passes away

4. Owner refinances

5. Owner takes out a HELOC

@Geoffrey Hoffman

 That's a really good point, thanks. I was looking on Zillow and Redfin, both showing the sales. I'll see if the county website has any more information.

Originally posted by @David S. :

@Geoffrey Hoffman

Geoffrey,

I would check the title report that would be by far the most accurate way of determining the history of sales or transfers. I hope this helps, KEEP ROCKIN BP-ERS!!

@David S.

I echo Geoffrey's comment about checking with the county. I can't remember ever seeing a property that was sold 7 times in 14 years. 

Cheers, Sawyer 

Why would you care if it sold that many times?  If you like the place and you like the neighborhood, put an end to the insanity and stabilize the poor place.  

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