Real estate
fromwww.housingwire.com
1 day agoOne in five Americans believe they've lived in a haunted house
Most Americans find home repair costs and related expenses more frightening than ghosts or hauntings.
You visit an open house for a stately old Victorian on a quiet street. It has a wraparound front porch and all kinds of vintage charm ... but you can't help but wonder if that sudden cold draft is the result of poor insulation, or a past occupant dropping by. And the lights on that stunning chandelier are flickering in a way that might foretell an expensive visit from an electrician - or an exorcist.
The Breslins purchased a home for $575,000 and invested $400,000 in unpermitted renovations, leading to the collapse of a $1.5 million sale. Avoiding permits to sidestep costly requirements backfired for the Breslins, leading to a ruling that they fraudulently concealed the unpermitted work. Despite major defects uncovered during a home inspection, the Breslins failed to disclose issues to subsequent buyers, resulting in legal repercussions.