Discuss Detroit Archives - Beginning January 2006 Does this sound like a scam to anyone else? Previous Next
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

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.
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

Ooh, Lake St. Clair is "just 7 miles away"! Now that's a selling point.
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

Since it's going into an escrow account, wouldn't that offer the sucker...I mean, buyer some form of protection?
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

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.
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

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.
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

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.
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

$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
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

rberlin:
What size bike?
Do you know if it has a clear title?
wanna sell it?
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

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.
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

Looks like the seller deleted the post. Didn't sound fishy, though, just overpriced for a vacant lot.
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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: Edit PostDelete PostMove Post (Moderator/Admin Only)

It was deleted but has reappeared here:

http://detroit.craigslist.org/ rfs/124122982.html

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