Everyone wants to avoid a bad deal. However, when you consider the sizeable transaction of investing in real estate, it’s easy to understand why it’s so important to spot those red flags before you sign a contract and close the deal in a money pit or find yourself entangled in legal battles with the sellers.
So read on as we explore four signs of a bad deal when you’re looking for real estate in Southeast Michigan.
When the owner handles their property sale, it may be a glaring sign of a bad deal when looking for real estate in Southeast Michigan. You’ll have more work to do without the assistance of an experienced real estate pro to handle the transaction. There may be trouble ahead if the sellers haven’t done any market research and set an unrealistic value on the property, something you may not realize until you are deep into negotiations and their temper flares. Professional buyers like those at Detroit4Cash, LLC. are investors who built their careers locally and can help you zero in on great deals. At Detroit4Cash, LLC., our professional buyers have a vast network of connections providing a steady stream of investment opportunities in the Southeast Michigan real estate market.
Short Sales or Foreclosures
With short sales, likely, the lender won’t negotiate with you for a lower sales price, and the seller owes more on the mortgage than the property is worth, which is another sign of a bad deal when you’re looking for real estate in Southeast Michigan. With foreclosures, you’ll likely be taking on a great deal of work as they typically need repair. Professional buyers like those at Detroit4Cash, LLC. are experts who work with a team ready to jump into action and assess deals. At Detroit4Cash, LLC., our professional buyers work with lenders on behalf of investors like you and can help you learn the ropes of this investment property sector.
The amount of time a listing has been for sale can signal a bad deal when looking for real estate in Southeast Michigan. When the days on the market begin to build over weeks and months, there’s a problem. It could be the price is set too high or too low; both ward off most buyers. There could be an issue with the marketing presentation; today’s knowledgeable buyers typically scroll past poor-quality images, or there are apparent issues with the property showing signs of disrepair. Professional buyers like those at Detroit4Cash, LLC. are highly seasoned negotiators who’ve handled the most extreme situations and are skilled at coming out on top. At Detroit4Cash, LLC., our professional buyers can help make great deals happen to help you increase your returns.
When a property is sold as-is, this is a glaring sign of a bad deal when looking for real estate in Southeast Michigan. Contingency clauses allow for inspections and for corrective action to be taken before the sale closes or to provide financial reimbursement for the costs associated with any issues that the inspector may discover. Unfortunately, buyers have little recourse when a property is sold as-is and may lose money on the investment. Professional buyers like those at Detroit4Cash, LLC. bring their entire team to the table. At Detroit4Cash, LLC., our experienced buyers and our full-service in-house team of industry specialists all work with an investors mindset to save time and money and avoid headaches.
If you want to avoid running your real estate investment business aground, the pros at Detroit4Cash, LLC. can help you navigate the waters. Talk to one of the professional investors at Detroit4Cash, LLC. for smooth sailing when looking for investment real estate in Southeast Michigan. Call Detroit4Cash, LLC. at (248) 767-3331.