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COMPREHENSIVE PRE-PURCHASE ANALYSIS
2847 Magnolia Drive, Franklin, TN 37064
MLS: #2584921
Report Date: Feb 9, 2026
KnowTheHouse Risk Indexβ„’
47/100
⚠ Moderate Risk
Multiple discrepancies discovered between listing claims and public records. Recommend proceeding with caution and thorough due diligence.

🚩 Critical Red Flags Discovered

Issues Requiring Immediate Investigation

  • Unpermitted Addition (400+ sq ft) MLS lists 2,400 sq ft but county records show 2,000 sq ft. Master suite addition has no building permits on file.
  • Owner/Agent Relationship Listing agent is the seller's sister-in-law. Potential conflict of interest in disclosure obligations.
  • Aggressive Price Reductions 4 price drops in 67 days (-$47K total). Started at $549K, now $502K. Suggests motivated seller or overpricing.
  • Short Ownership Period Current owner purchased 14 months ago for $385K, now listing at $502K (+30% markup). Quick flip with minimal disclosed improvements.
  • Missing Renovation Permits Listing claims "fully renovated kitchen and bathrooms" but zero permits filed. $60K-$80K in cosmetic work appears unpermitted.

πŸ“… Ownership History Timeline

December 2024
$385,000
Current Owner: REI Properties LLC
Type: Cash purchase, no mortgage
Days Owned: 14 months (Quick flip scenario)
March 2019
$362,000
Owner: Henderson Family Trust
Type: Conventional mortgage
Days Owned: 5 years 9 months (Stable ownership)
July 2013
$285,000
Owner: James & Patricia Wilson
Type: FHA loan
Days Owned: 5 years 8 months
May 2008
$324,000
Original Owner: Builder - Cornerstone Homes
Type: New construction sale
Note: Purchased during market peak before 2008 crash

πŸ” MLS Listing vs Public Records

Data Point MLS Listing Claims Public Records Show Status
Square Footage 2,400 sq ft 2,000 sq ft (County Assessor) Discrepancy
Bedrooms 4 bedrooms 3 bedrooms (Tax Records) Discrepancy
Year Built 2008 2008 βœ“ Match
Lot Size 0.43 acres 0.42 acres βœ“ Match
Garage 2-car attached 2-car attached βœ“ Match
Pool In-ground heated pool No pool permit on file Discrepancy

πŸ“‹ Permit Analysis

Missing Permits for Major Work

Master Suite Addition (Est. 400 sq ft)

MLS listing and photos show a master bedroom addition with ensuite bathroom that does not appear in original 2008 building plans. No permits found for structural addition, electrical work, or plumbing. This represents significant liability.

Financial Risk: $35,000-$60,000 to retroactively permit or remove if forced by county

Kitchen Renovation (Full Gut & Remodel)

Listing describes "chef's kitchen with quartz countertops, custom cabinets, high-end appliances." Photos show walls were moved and plumbing relocated. Zero permits on file for demolition, electrical, plumbing, or gas line work.

Financial Risk: $15,000-$25,000 to bring to code if discovered during sale or refinance

Bathroom Renovations (2 Full Baths)

Both bathrooms show extensive renovation work including new tile, fixtures, and reconfigured layouts. No plumbing or electrical permits found. Work appears professional but unpermitted.

Financial Risk: $8,000-$15,000 per bathroom for code compliance

Electrical Panel Upgrade

Photos show modern 200-amp panel, but permit history shows no electrical service upgrade from original 2008 installation. May have been done without inspection, which affects insurance and liability.

Financial Risk: Insurance denial or premium increase; $3,000-$5,000 to re-inspect and certify

⚑ Recommended Actions Before Making Offer

1

Demand Full Permit Documentation

Request seller provide building permits for all renovations claimed in MLS listing. If permits don't exist, require signed affidavit disclosing all unpermitted work. This shifts liability documentation to seller.

2

Hire Inspector with Structural Focus

Standard home inspection insufficient given unpermitted addition. Retain inspector with structural engineering background to assess master suite addition for code compliance, foundation integrity, and proper framing.

3

Request Pre-Inspection by County

Before making offer, contact Williamson County Building Department for informal inspection. If major code violations found, use as negotiation leverage or walk away before investing in due diligence costs.

4

Investigate Agent Relationship

Confirmed seller and listing agent are related. Request disclosure of relationship in writing and consider having attorney review all seller disclosures for completeness given potential conflict of interest.

5

Calculate True Comparable Value

At 2,000 sq ft (not 2,400), this property is overpriced by $48K-$65K compared to true comps. Factor in $60K-$100K permit risk exposure. Fair offer should be $415K-$435K, not asking price of $502K.

$67K-$105K
Potential Savings from This Intelligence

πŸ“Š Executive Summary

Risk Score

47/100
Moderate-to-High Risk due to unpermitted work, short ownership, and MLS discrepancies

Total Red Flags

5
Major concerns requiring investigation before proceeding with purchase

What You Need to Know

  • Property has 400 sq ft unpermitted addition not reflected in county records
  • $60K-$80K in cosmetic renovations completed without building permits
  • Current owner is investor flipping property after only 14 months (+30% markup)
  • Listing agent has undisclosed family relationship with seller
  • 4 price reductions in 67 days suggest motivated seller or serious issues
  • True square footage is 2,000 sq ft, not 2,400 sq ft as listed
  • Financial exposure: $60K-$105K if forced to permit retroactively or remove additions

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