Government Property- Cleveland
Hey !
I spoke with agent and she is listing property that belongs to the government.
She has the key and everything so she can go in. She said is FHA loan of someone and he couldn't make it so the government take over that and they put it on MLS market now. the home need full rehab. front porch. siding .water heater..
The agent said that i need to do POS since is Cleveland and that is the law over there, and any repair that they said i would have to do it.
if I decide not i lost $1000 earnest. There is any rules i should know with Government property or basically it should be fine to get it like any other property. What do you say, i can get the property in good price and she said i can put any offer to see if they accept it.
thank you
The City of Cleveland (proper) does not require a POS.
Some of the suburbs of Cleveland may require a POS.
@Alon Attias it sounds like this is any other house that needs work, and she is making it sound like she has some great in on it, but it is just on market.
I would slow down if this is your first deal before you just jump into something. Do you have crews lined up that can handle the repairs?
Quote from @Chris Davidson:
@Alon Attias it sounds like this is any other house that needs work, and she is making it sound like she has some great in on it, but it is just on market.
I would slow down if this is your first deal before you just jump into something. Do you have crews lined up that can handle the repairs?
Hey
Im a contractor i have really good knowledge in that and know how thing suppose to go that my day day job.
I actually was controlled people remotely before in my job.
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Quote from @Alon Attias:
Hey !
I spoke with agent and she is listing property that belongs to the government.
She has the key and everything so she can go in. She said is FHA loan of someone and he couldn't make it so the government take over that and they put it on MLS market now. the home need full rehab. front porch. siding .water heater..
The agent said that i need to do POS since is Cleveland and that is the law over there, and any repair that they said i would have to do it.
if I decide not i lost $1000 earnest. There is any rules i should know with Government property or basically it should be fine to get it like any other property. What do you say, i can get the property in good price and she said i can put any offer to see if they accept it.
thank you
You are in NOWAY ready to invest in Cleveland, You do not have a team or know the market. You do not need a POS in Cleveland proper. Also if this is a listed deal its gabage, that is not where the deals are. All my 500 or so have been off market.
All the best
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- Cleveland
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Quote from @David Leggett:
I would make sure the property isn't in East Cleveland. East Cleveland does have Point of Sales, but most areas in Cleveland do not. But like Bill said, a lot of the surrounding neighborhoods on the east side do. But if you're an experienced contractor, you should be able to take on some work, I would just make sure it's not in a really bad neighborhood and get an accurate quote before purchasing the property.
We are buying everything we can in EAST Cleveland in certain areas, I assume you know why :) Problem is there is nothing avl. I did get a 7 unit closing enf of the week or next , waiting on east Cleveland docs,