Pending Judgement on a Shell. Should I buy? - Posted by Lion NC
Posted by Lion NC on September 10, 2004 at 16:34:25:
Hello,
Motivated seller called wanting to part with a 1/1 that has been completely gutted(in Charlotte). No plumbing or electrical. Homes fixed up in the area are selling for $40-$45K. I would offer $100.00 but the seller says there’s a pending judgement because he’s owned it for 2 years and hasn’t been able to meet the code requirements. If I buy does the clock (on the judgement) start over or do I pick up his bagage?
Re: Pending Judgement on a Shell. Should I buy? - Posted by Carmen_FL
Posted by Carmen_FL on September 11, 2004 at 20:55:11:
From my experience, the code violations are “inherited” - however, I’ve also found that they are usually willing to work with whomever can get the issues resolved.
Right now I’m working on a house with two code violations, both requiring demolition. Although the fines have been accruing for almost two years (at $150+ a day), I was able to get the code enforcement liens released for an “administrative fee” of less than $1,000 and a written promise to get the issues taken care of within 30 days of closing. Some cities are more “friendly” than others, but the code enforcement manager was very willing to listen and to adjust and to extend time, especially since in this case, the property was in foreclosure and we didn’t have time to fix anything prior to selling it. Oh, and the title company also said selling it with the liens would not be a problem, as long as the buyers agreed and they put an exception in the title policy.