Real Estate Professional · Plainwell, MI · Member since 2015 · 144 posts · 31 votes
I have a property that I am in the process of getting under contract, the seller has received a letter from the county that they want to come and inspect it, and it could possibly be condemned, or at least deemed unlivable, has anyone had an experience like this, how would this effect the sale?
Real Estate Agent · Kalamazoo, MI · Member since 2016 · 223 posts · 26 votes
9y
I don't believe there should not be any effect on the actual sale. You will have to just address the violations and have it inspected so they can remove the violations and you can rent it. Do you know what those violations are?
Real Estate Agent · Kalamazoo, MI · Member since 2016 · 223 posts · 26 votes
9y
James Austin sorry I did not read that correctly. I thought it had already been inspected. I believe it can work in your favor to negotiate price unless your already happy with where your at now. I believe the owner can delay the inspection. But then it may become your issue depending why the feel they need to check the property out. Had it been vacant for a while or have there been problems with upkeep or causal entry problems?
Real Estate Professional · Plainwell, MI · Member since 2015 · 144 posts · 31 votes
9y
@Donna Ragan this is information I was given by the home owner, I haven't put it under contract yet, because I wanted to be sure that I had the ability to assign the contract still.
@Ramon Huerta from what the owner says she just wants it gone so I am trying to come up with a fair offer, not just a low ball, which is where i currently stand.
Investor · Hortonville, WI · Member since 2016 · 52 posts · 25 votes
9y
I've purchased two condemned properties now. Usually it's just a matter of hiring certified contractors, having the building inspector hand you a big stack of paperwork saying what you need to do to bring the entire place up to code and the working down the list. In Alaska the building codes were questionable at best so I didn't even have to get a second inspection. In Wisconsin the whole place had to be brought up to modern code standards which cost about 35k more than I wanted to spend.
Possible? Yes
Fun? No
But you should be able to get a fantastic deal.
Real Estate Professional · Plainwell, MI · Member since 2015 · 144 posts · 31 votes
9y
So I have the property under contract, it is not condemned yet, my seller has to go to county today to file paper work because they want to inspect it, do I wait for the inspection? or can I market this regardless? And not to sound ignorant, how would you market this out?
@Ramon Huerta I apologize for not being able to make it to the Krawl I had to go visit this property.