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Thread: Chinese Drywall

  1. #1
    Join Date
    Mar 2007
    Location
    Mesa AZ
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    1,181

    Default Chinese Drywall

    I haven't heard much about chinese drywall lately, and haven't been asked about it in a few weeks. I search for info about it every few weeks, and thought this info. was interesting. Page Title

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  2. #2
    Darrel Hood's Avatar
    Darrel Hood Guest

    Default Re: Chinese Drywall

    I have an investor client who flips homes. She has bought five homes with Chinese drywall. Like foundation cracks, people are more afraid of the condition than it warrants. Therefore, the price reduction for the home is many times more than the cost to correct the conditions. Her most recent acquisition was a home that normally appraises for $240 K. She bought it for $106K and paid $35,000 to repair/rehab.

    Darrel Hood
    DILIGENT PROPERTY SERVICES


  3. #3
    Join Date
    Dec 2008
    Location
    Maryland
    Posts
    2,777

    Default Re: Chinese Drywall

    Quote Originally Posted by Darrel Hood View Post
    I have an investor client who flips homes. She has bought five homes with Chinese drywall. Like foundation cracks, people are more afraid of the condition than it warrants. Therefore, the price reduction for the home is many times more than the cost to correct the conditions. Her most recent acquisition was a home that normally appraises for $240 K. She bought it for $106K and paid $35,000 to repair/rehab.

    Darrel Hood
    DILIGENT PROPERTY SERVICES

    Do you mean she ripped all drywall out and replaced it?


  4. #4
    Darrel Hood's Avatar
    Darrel Hood Guest

    Default Re: Chinese Drywall

    Replacement of affected drywall and copper.

    Darrel Hood
    DILIGENT PROPERTY SERVICES


  5. #5
    Join Date
    Mar 2007
    Location
    Chicago, IL
    Posts
    2,797

    Default Re: Chinese Drywall

    More news on the Lowes class action suit:

    http://www.drywallsettlement.info/as...011%20(v2).pdf

    Michael Thomas
    Paragon Property Services Inc., Chicago IL
    http://paragoninspects.com

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