Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

27
Posts
8
Votes
Abhay Sachar
  • Rental Property Investor
  • Fremont, CA
8
Votes |
27
Posts

Evaluating investment property in Memphis TN

Abhay Sachar
  • Rental Property Investor
  • Fremont, CA
Posted

Evaluating a property in Memphis TN. Newbie investor.

Just got the contract and it mentions that it is unknown that there ever was a "sinkhole" there, or about the foundation, 

--Seller (is unknown) of a sinkhole(s) present on the Property. A sinkhole is defined pursuant to Tenn. Code Ann. § 66-5-212(c) as "a subterranean void created by the dissolution of limestone or dolostone strata resulting from groundwater erosion, causing a surface subsidence of soil, sediment, or rock and is indicated through the contour lines on the Property's recorded plat map."

--Seller (is unknown) that a single family residence located on Property has been moved from an existing foundation to another foundation.

--Seller (is unknown) of the presence of an exterior injection well on the Property.

Are any of these "red flags" for a property purchase in Memphis? Are these common issues? I have learnt a lot from BP and looking for recommendations on these from fellow investors and experienced folks!

Thanks!

Loading replies...