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BAD ESN iPhone 5 on GSM network

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I'm aware the Verizon iPhone 5's are factory unlocked out of the box in which they will work on GSM networks (AT&T and T-Mobile) if you have a nano sim or file your sim down to a nano size.

What I'm looking to do is buy a used iPhone 5 for my cousin who happens to be on T-Mobile. She'll transfer her sim to a non sim. However since iPhone 5's are still expensive, I would like to know if the following cheaper approach will work.

If I buy a Bad ESN iphone 5 from Verizon, will it still be unlocked to work on GSM networks? I'm not looking to jailbreak it or do the Gervy sim unlocked or anything of that sort. I just want to use the factory unlocked and would love to go down the cheaper route of a BAD ESN Verizon iPhone 5.


And yes, I'm aware T-Mobile is coming out with the iPhone soon but it won't be discounted. And I appologize if this question has been asked, I was unable to find a thread that answered my specific question

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