Detroit Real Estate

As a Plymouth realtor we see and hear things that are worth sharing to the public.  My feeling is that if somebody can learn from a another person's mistake then sharing it is a good thing.  I was up at the Michigan Association of Realtors a few months back week and was talking to another Plymouth Realtor.  He was a little upset because one of his clients had just called and yelled at him.  You make the decision whether it was his fault or not. 

His clients were knowledge landlords and flippers.  They wanted to put in a purchase offer without requiring a home inspection.  But the City of Wayne requires a city inspection before the home closes and a Certificate of occupancy before the new owners move in.  The buyers ordered the city inspection but there was no time to get the results back before closing.  The banks rush the cash sale, so the buyer did not have a chance to get the Wayne City inspection back before they closed.

Well they closed on the Wayne home,  and went to go to work on all the items done on the house.  Well the issue came up that the deck and the finished basement never had permits pulled on it.  The City of Wayne demanded that they remove the deck and the finished basement.  The buyers complied but they were mad. They either lost value on the home or had to put more money into the home. 

It wasn't the real estate agents fault that the buyers could not get the city inspection results back before closing.  It didn't matter because the buyers had agreed to no home inspection.  So they would have lost their deposit if they backed out because of the city inspection results. 

So the moral of this tale is if you buy a bank foreclosure, get the city inspection results if you can before you make a decision.   Many metro Detroit cities are requiring city inspections.  You need to make a sound decision before you buy and the only way to do that is to have the city inspections results back before you are locked into the contract!.

I feel it is both the buyers and the Plymouth Realtors fault.  The Plymouth Realtorshould have warned the buyer of the potential consequences.   But the buyer would have lost the home so the buyers rush was a mistake too.  But the I hope this helps you learn from somebody else's mistakes

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