Buying an old grow up house?

[epp01]

Was looking into getting my first home here soon. I've seen a few houses on Kijiji and MLS that says they were former grow op houses?

"This property is a former grow-operation that has NOT been REMEDIATED. Home is sold as is - no warranty or representation."

What all is required to get it back re mediated? Fixing things like fire alarms and such? I don't mind a house I have to put some money into to make a profit. Does no representation mean I can't even look inside the house?

Any info would be great.


Thanks.

[kaput]

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[Jetta-2.0]

ull be walking sleeping breathing seeing mold every where dont bother with it

[Graham_A_M]

Originally posted by kaput
There are other threads on here about this. The short answer is don't even think about it. Repairs could run in to the hundreds of thousands of dollars. Unless you are an expert in the field and are willing to take a tremendous risk, it's not worth it. This, 70% of the time the renos will be onpar or surpass the value of the house. You'll have vicious mould problems that are almost impossible to get rid of, structural damage. It just goes ON and ON. Usually the electrical will be completely shot, since they've redone all the wiring to handle the absurd energy requirements. READ: all new wiring, insulation, drywall & painting
Basically the only value most grow op houses have is their lot value, minus the cost of tearing down the condemned house. Dont get me wrong, there are exceptions, but even then expect $70k++ in repair bills

[Kona9]

You are better off looking at buying the place for the land to rebuild on. Once you purchase a home that was a grow show, you have to disclose it to who ever you sell the house to as well. Even with all your proof of renovations it will be a hard sell just for that reason alone.

Why not buy a regular priced home and put just as much money into renovating it, and you will definitely have a good ROI.

Don't let the reduced price fool you.

[epp01]

Thanks for the heads up, gonna stay FAR and CLEAR away from this house lol.

[msouther]

If you buy a grow op, get a clean bill of health on it and sell it later, you don't have to disclose it was a former grow op. With this said, I have told clients in the past not to buy houses that either were recently grow ops or were remediated grow ops from years back.

When a grow op is originally sold it will be disclosed in the private remarks field to realtors that this is the case. When I am representing a buyer I always look at the history of a house which shows all previous MLS listings. Those comments are still on there which tells me that we need to run from this property. It is permanently stigmatized in my opinion!

There are a lot of good deals out there and lots to choose from. Buy something that you plan on staying in for 5 years at least, and make sure whatever you get will be saleable when the time comes. All the best!

[G-ZUS]

Grow-ops are like severely written off cars. I was looking into one, but my families health is worth more to me then the 1000's of dollars i would be saving.

[HiTempguy1]

Originally posted by Kona9
You are better off looking at buying the place for the land to rebuild on.

This is the only way I'd do it. Find an old drug house that has value in the land but not the building. Tear down house, put up brand new one. Profit.

[InRich]

u could always OFFER a redic low price, and if they accept, build a new house after the demo.

As far as everything else everyone else is saying, its all true, gotta love beyond's constant love for other people.

[rinny]

^^^^
Like he said. But then ensure you have the capital to complete repairs or you'd be making mortgage payments after using your capital for downpayment and living in a shithole.

On another note, had a coworker buy a remediated grow op house. Very nice house and he says he hasn't had any issues yet. Then again, health issues could surface in years, he'll definately make money on it in the future for what he paid.

Yours is a different case though.

[JordanLotoski]

Originally posted by epp01
Was looking into getting my first home here soon. I've seen a few houses on Kijiji and MLS that says they were former grow op houses?

"This property is a former grow-operation that has NOT been REMEDIATED. Home is sold as is - no warranty or representation."

What all is required to get it back re mediated? Fixing things like fire alarms and such? I don't mind a house I have to put some money into to make a profit. Does no representation mean I can't even look inside the house?

Any info would be great.


Thanks.


Id stay away, specially if it has not been remediated, there are to many homes on the market to choose from....way to many unknowns with a home that needs that much work.