I was going to move..

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Originally Posted by 3beansalad

Wouldn't the home owner have collected some insurance payouts for repairs?

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Interesting question.
According to the report, the house was in foreclosure after the renter, who was using a lease-option to buy contract for 10 years, was evicted for non-payment.
Not sure if lease-option requires renter or owner to pay the insurance.

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Originally Posted by BladesNBarrels

How about the Slice of Hell House in Colorado Springs.
Listed at $590k and had 16 full price cash offers on first day.
Needs 150 to 230k in repairs and would be worth 700k when completed.
Do the math.
Made quite the sensation on the TV Presenters local coverage.

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House is under contract. A buyer from the same neighborhood.

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Originally Posted by BladesNBarrels

Interesting question.
According to the report, the house was in foreclosure after the renter, who was using a lease-option to buy contract for 10 years, was evicted for non-payment.
Not sure if lease-option requires renter or owner to pay the insurance.

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When I bought in January 21, allowed our friends (the sellers) to remain in the home for 10 days after closing. Both parties were required to have insurance on the selling for that time. I'm no expert, but if I was selling on, lease to own especially, I'd be sure my ass was covered.

Not to mention I don't trust the news to not sensationalize a story.

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