Investor refuses to inspect house and pays $50,000 over asking price.

Instantly regrets it.

This story comes from my parents' next-door neighbor of over 20 years.

For some background, my parents and their neighbor bought homes in an up-and-coming part of Florida

20 years ago.

We're talking half-acre lots with 2,500 square foot

homes for about 130,000. Our neighbour's home was a little smaller than my parents, no pool, and over

the 20 years the only thing done to the house was a new roof. Nothing else had changed. Everything was

still the original. Appliances, paint, AC unit, cabinets, tile and carpet.

I wish I could say she took care of it and never needed to change things, but that wasn't the

case. Our neighbour's house looks 20 years old. Well, she's a widow and the house is huge for just her,

so she decided to sell it and take advantage of the market. She listed it for

400,000. Despite her never having put a penny into it, the house goes on a bidding war, and the

top bidder is an investor from California. She offers to pay 30 grand over asking, pay the closing

costs and can do it the same day. The investor had two stipulations.

Our neighbour takes the house off the market immediately, and she turns over the key to her management

company, with the cash for the home held in escrow until the key was turned over, and our neighbour's

side of the paperwork is done. Now, our neighbour was upfront with this woman and the state of the home

and asked if she wanted to have her management company come in and look at it first. The woman says,

no, I'm renting the house and it doesn't need to be painted. Just pull it off the market. So here we have

our not so malicious compliance. This woman bought the home for about 450 grand when all was said

and done. So our neighbor immediately goes to the management company with her realtor, signs her paperwork,

...