Updated about 9 years ago on . Most recent reply
very bad experience with a Turnkey in Detroit
Hi and thank you to anyone who could help me.
I signed a contract in january to buy a single family house to a Turnkey based in Detroit. Typically the house had to be renovated before closing. The home inspection revealed that the roof had to be changed. It was not mentionned in the initial contract because only the home inspection revealed the state of the roof. The Turnkey told me he wanted me to be 100% satisfied and will take special care to ensure that the replacement of the roof will be put in the closing documents - which was not.
Then he refused to recognised his promess, he refused to refund me my hearnest money and gave me a brush off about the roof. I have no news from him and have the feeling that he wants to keep my money and sell the house to someone else.
What can I do ?
Every answer will be considered and appreciated. I am desperate.
Most Popular Reply
Consider the temporary loss of your earnest money to be a blessing. You may or may not see it again. There are lots of documented cases where turnkey properties do not work out well. My advice: if you can't afford to go see it, you probably can't afford to buy it. And don't buy "crap".
Detroit, despite what ppl say, is still a war zone. In 1985 it had 1.5 million ppl. Today it's 800k. Although people CAN make money in Detroit, you won't. The chance of someone that is remote, without boots on the ground, making the same kind of money is slim at best.