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Answers (4)
- Dan, "the_country_hick"
- Contributions:4699
There was an article about Detroit awhile ago. It said that 62% of business and over 1/4 (forget exact amount) of houses were vacant in that city.
People left and the houses are unneeded. Rents could be hard to collect.
People left and the houses are unneeded. Rents could be hard to collect.
- Michelle Carr-Crowe, "lynbrookhomes1"
- Contributions:533
You also need to verify the following:
1) is there a structure standing on the property?
2) has it been red-tagged? (meaning uninhabitable)
3) are there other outstanding liens on the property (loans, taxes, mechanics liens, debts)?
4) are there easements making it difficult to access/sell?
5) are there problems with the surrounding area? (new freeway coming in, etc.)
6) are there toxic waste issues? (If so, RUN AWAY! Any new buyer inherits the problem and full financial responsibility to clean it up.)
1) is there a structure standing on the property?
2) has it been red-tagged? (meaning uninhabitable)
3) are there other outstanding liens on the property (loans, taxes, mechanics liens, debts)?
4) are there easements making it difficult to access/sell?
5) are there problems with the surrounding area? (new freeway coming in, etc.)
6) are there toxic waste issues? (If so, RUN AWAY! Any new buyer inherits the problem and full financial responsibility to clean it up.)
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
How many homes do you want to purchase? I would think that fixing them up is going to involved a certain amount of $$'s.
I have found some properties for sale in Detroit for under 1000. Any other markets like this?
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