I don't know what to do about my newest listing opportunity. Something does not add up. Here is the 411.
- Owner is in bankruptcy.
- Property is in good shape.
- Property is in neighborhood known for drug issues and has a higher crime rate than most of the city.
- Property is vacant. Debtor claims that it isn't being lived in and hasn't been for a long time.
- Inspection today revealed the following:
- Back door wide open
- Property full of furnishings
- All copper pipe intact
- Utilities on
- Crack & weed all over the place
So here is the problem. If we have crack, weed and an open back door there is usually a stripped property. Something here does not make sense. I am not sure I want to list a property where I don't understand the issues.
Isn't that scary? Nice place with a little bit o drugs inside. I am spooked. If we would have found a body or something, this would all be totally normal and I would be looking forward to the listing. I must be mental.
Do you have questions about distressed assets, receivership or bankruptcy sales, auctions? Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Gryphon Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
;)
;)
;)
