Jt1 Member Username: Jt1
Post Number: 6368 Registered: 10-2003 Posted From: 4.229.99.130
| Posted on Tuesday, January 10, 2006 - 1:37 am: | |
Craigs list property for sale in Detroit: http://detroit.craigslist.org/ rfs/124029833.html Property Features: County: Wayne Approximate lot is 35X126 Zoning: Residential All Utilities School District: DETROIT Address: 18086 Fairport St, Detroit, MI 48205 Legal Description: E FAIRPORT AVE 484 GRATIOT MEADOWS SUB L46 P57 PLATS, W C R 21/687 35 X 126 Please, only "CASH" buyers need respond. $1,500 non-refundable earnest money deposit. The balance due at closing. Buyer guaranteed clear title with NO liens. With an "ALL CASH" deal, escrow will typically take 2-3 weeks after which a copy of the deed will be given to you. The original deed will be forwarded to the County Recorder's office for recording. After the county records the deed, the original deed will be forwarded to you. |
Dougw Member Username: Dougw
Post Number: 940 Registered: 11-2003 Posted From: 68.248.54.221
| Posted on Tuesday, January 10, 2006 - 1:51 am: | |
Ooh, Lake St. Clair is "just 7 miles away"! Now that's a selling point. |
Smogboy Member Username: Smogboy
Post Number: 1541 Registered: 11-2004 Posted From: 68.84.183.189
| Posted on Tuesday, January 10, 2006 - 2:28 am: | |
Since it's going into an escrow account, wouldn't that offer the sucker...I mean, buyer some form of protection? |
Jt1 Member Username: Jt1
Post Number: 6373 Registered: 10-2003 Posted From: 4.229.99.212
| Posted on Tuesday, January 10, 2006 - 2:43 am: | |
Please, only "CASH" buyers need respond. $1,500 non-refundable earnest money deposit. The process for the title sounds sketchy to me. I may be wrong as I am not 100% clear on the title process. |
Rberlin Member Username: Rberlin
Post Number: 286 Registered: 06-2005 Posted From: 65.43.38.50
| Posted on Tuesday, January 10, 2006 - 7:44 am: | |
Shouldn't buying any property in Detroit be considered a scam? Just joking, however this does seem weird. Reminds me of the motorcycle I bought several years ago that to this day sits in my moms garage titleless. |
Barnesfoto Member Username: Barnesfoto
Post Number: 1634 Registered: 10-2003 Posted From: 66.2.148.78
| Posted on Tuesday, January 10, 2006 - 9:01 am: | |
There's a non-refundable deposit whenever you buy a house,..What is the actual cost of the house, who is selling it, etc? There are plenty of scammers and cheapskates on craigslist, like in life, but there are bargains too. Check the tax records at City Hall. Get title insurance. Or find a deal that seems less suspicious. |
Track75
Member Username: Track75
Post Number: 2182 Registered: 10-2003 Posted From: 12.75.24.93
| Posted on Tuesday, January 10, 2006 - 12:33 pm: | |
$5,500 for a lot (no house) seems a bit steep when you could have bought this one on Ebay for less than 1/10th the price. http://cgi.ebay.com/Detroit-Mi chigan-City-Lot-35-x-105_W0QQi temZ4427817940QQcategoryZ15841 QQssPageNameZWDVWQQrdZ1QQcmdZV iewItem |
Bagman Member Username: Bagman
Post Number: 43 Registered: 06-2004 Posted From: 68.248.2.189
| Posted on Tuesday, January 10, 2006 - 1:24 pm: | |
rberlin: What size bike? Do you know if it has a clear title? wanna sell it? |
Spartacus Member Username: Spartacus
Post Number: 68 Registered: 07-2005 Posted From: 209.114.251.65
| Posted on Tuesday, January 10, 2006 - 2:35 pm: | |
The deposit should be refundable until you've had a chance to inspect the property and inspect title. The deposit should be held by an escrow agent (in this case a title company). You should never buy property without title insurance, it is typically paid for by the Seller and if the property is less than $10,000 will only cost about $190. The purchase money should be paid to the escrow agent, the title company will take the deed and disburse the funds to the seller. The title company will then record the deed (at the buyer's cost). I have no idea what "escrow will typically take 2-3 weeks" is supposed to mean. Giving the purchase money, or for that matter the deposit money, directly to the seller would not be very smart. |
Gdub Member Username: Gdub
Post Number: 947 Registered: 10-2003 Posted From: 68.248.15.192
| Posted on Tuesday, January 10, 2006 - 3:01 pm: | |
Looks like the seller deleted the post. Didn't sound fishy, though, just overpriced for a vacant lot. |
Mikem Member Username: Mikem
Post Number: 2285 Registered: 10-2003 Posted From: 68.43.15.105
| Posted on Tuesday, January 10, 2006 - 3:13 pm: | |
It was deleted but has reappeared here: http://detroit.craigslist.org/ rfs/124122982.html |