The Flip.- Flipping is a term used by real estate investors and contractors to describe "residential redevelopment". Most flips are distressed or abandoned properties that are cosmetically improved to generate a quick sale and tidy profit for the investor. Although there are plenty of reputable companies doing flips now days that take extreme pride in their product, there are many that truly are in it for only profit alone.
Spotting the Flip - Sometimes it is not obvious if a home has been flipped or just been taken care of and well maintained by the Owner(s) over the years. The main thing to do when looking at older homes in older neighborhoods is research and asking the right questions.
Finding the actual age of the home is a good start. Some clues to a “flipped” home are very obvious like, is the home vacant and everything brand new. Checking on the property sale history is another fast check. If the home at one time was sold on the low side of its value, than four to six months later sold on the higher side, you could have a flipped property.
Some of the more technical tasks would be checking the municipality building permit department on the property assuming there were permits taken out for all the new work.
The majority of the work in flipped homes are kitchen and baths. Permitting is most always required for these types of project and the contractors are usually listed on these permits which is another good source to find out if the renovations were done for the Owner or for an investor.