We Need Help!
Hi,
We are a family in Michigan looking for someone to do a short sale on our home. Our story is like hundreds of others…..we’ve had hard times and no way to pay the mortgage. We will be officially “forclosed” very soon and are desperate for someone to buy our home. We do not want to refinance. We do not want to keep the home. It is a great deal; a great house. You can see it on the Century 21 website….it is MLS # 30448650. We are very desperate…if you are not interested please direct this to others you know.
Thank you,
L. Frederick
P.S. The house price is very negotiable….the bank is getting as desperate as we are.
Post more info on the city, asking price, condition, how much in repairs. Have you put an ad in the paper yourself?? Told all your friends and relatives that you need to get out of your house?? Ask around for someone who can take over your payments. Perhaps someone who is in the area will get ahold of you. Good luck.
Caveat emptor means let the buyer beware. Due diligence on a commercial real estate property is the means by which a buyer becomes aware of those aspects of property that can adversely impact the value, quality, or usefulness of the property. Due diligence should answer all questions related to the property prior to the sale or purchase of the property. Questions that should be answered include:
What’s the property worth (appraisal)
What’s the property going to cost to maintain (property condition report)
Are there any former or current environmental liabilities (Phase I Environmental Assessment)
Are there any tax liens, deed restrictions, encumbrances, easements, or other ownership related problems (Title search)
Other questions may also exist (for example is there an imminent threat that the property will be seized by eminent domain, etc.), you should refer to financial and legal experts for a more detailed list of questions.
Performing due diligence prior to the purchase of property protects the buyer from liability to unforeseen, or overlooked conditions. For example, if you buy property but fail to perform due diligence, and later you find that there is a tax lien on the property, you will be held liable for the tax lien. Similarly, if there is an environmental problem on the property but you failed to perform due diligence and did not discover the problem until after the sale, the problem is yours now. In the case of the environmental due diligence, if contamination is found at the property on a later date you may not be responsible for the contamination if due diligence was performed in the form of a Phase I Environmental Assessment prior to the purchase of the property.