In the spring of 2010, federal tax credits for first-time homebuyers fueled the sale of low and mid-range homes. Houses sold in record time. In some cases, it was a race to get offers in ahead of the next potential buyer. It was a seller’s market, for sure.
In the case of one Pennsylvania couple, haste to move on a “move-in condition” bi-level turned into a costly mistake. After dismissing the idea of a home inspection, the buyers quickly found themselves “throwing money into a bonfire.”