Friday, April 29, 2016

Foreclosure-Flipping Real Estate Investor Unwittingly Buys Home Contaminated w/ Meth; Unpleasant Surprise Discovered After Fix-Up, During Prospective Buyer's Contract Inspection Period

In Cheyenne, Wyoming, Wyoming Public Radio reports:
  • Many homes or apartments in Wyoming are contaminated by methamphetamine and if you move into one of those places, you may not know it. It can lead to health problems and be expensive to clean up. Wyoming is one of the few states that does not require disclosure of a meth-contaminated home.

    Sheridan realtor Dan Casey remembers when he first got caught. Casey had a client who had bought a home during a foreclosure sale and after his client fixed the place up he tried to re-sell it. Casey said they were close to a deal when a neighbor stopped by.

    “We got an offer right away on the house and right during the inspection phase the potential buyer was walking around and the neighbor came by and said…oh the people who used to live here were meth users…this was a meth house.”

    Casey and the homeowner were frustrated because it required extensive clean-up. He says local law enforcement and the Department of Family Services both knew that it was potentially contaminated.

    “That the DFS had been called for drug use, you know the police department had been called for drug use, but these separate governmental parties were never talking to each other and this poor investor got stuck with a contaminated home.”

    Clean-up can cost between five and 15-thousand dollars.