What's something you wish you had known sooner about one of your properties?

Question

Not necessarily a bad deal.

Just something you discovered later than you would have liked.

Could be a violation, permit issue, tenant issue, contractor problem, title issue, or something else entirely.

What happened, and what did you learn from it?

Max Ferguson · Answer

Buying a xeriscaped property in winter can hide a lot of deferred maintenance. Buying any property in winter can hide a ton of landscaping problems, for that matter!!

Greg Kasmer · Answer

@Ajayi Bukola - A few single family houses I bought had some liens with the township that were not recorded with the county, but I still paid them to the township myself in order to get permits issued. I wish I would have called the local township/borough to understand any outstanding fines before buying!

Crystal Smith · Answer

While we buy all over one of our main markets in the Chicagoland region. In Chicago property they have a great site where you can check on previous violations, permits,.....  The villages and suburbs around Chicago are not as advanced.  A few years back one of our attorney filed a FOIA request with a town/village  so we could find out the history of a property, at least the history with the village, prior to purchasing it.  I had heard of a FOIA request but had never used one for property.  Now we do it all the time.  For most villages/towns around here the respond to our requests in 24 to 48 business hours. Filing the FOIA requests has reduced the number of surprises we find in properties.

Ajayi Bukola · Answer

Very true, Winter has a way of covering up issues that aren't obvious at first glance. It's a good reminder to dig a little deeper during due diligence instead of relying only on what you can see.

Jules Aton · Answer

You beat me to it.

﻿What's something you wish you had known sooner about one of your properties?

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What's something you wish you had known sooner about one of your properties?