Found a listing on redfin for 225k . Its a legal 2 family home that needs a complete gut . Seller bought it 150 k 6 months ago to flip it but according to agent the seller wants to move on to bigger and better deals and wants to get rid of it . Arv on the home is 450 k so the seller is potentially walking away from a 150k profit . Seems fishy to me . Any thoughts?
It's not uncommon for people to get into deals and then run out of time, money, desire to actually do the deal.
I would recommend you do all of the due diligence that you can and make sure there isn't something that the seller knows that you don't.
It happens, but I would call the city and find out if any permits were pulled on the house.