Recieverships and you

Dr. Frenchenstein

So i live in a townhouse in the city, and the guy next to me tried to rehab his place, failed spectacularly, and damaged mine. I think he's pretty much given up on it, as no work has been done (although a few guys popped in there a few weeks ago, but i don't know what was done) in many moons. the city has it listed as a vacant property, and there are no current permits. I've been bugging the city pretty much non-stop about this asshole, as his yard is a mess, and the house is a dump. the housing enforcement and DA said they were going to file for receivership of the property. which would either cause the guy to finish rehabbing or forfeit the house. at least, that's my understanding. i'm pretty sure he paid cash for the place, i seem to remember him saying he got it for $17k. everything i've looked up in banks filing for receiverships in lieu of short sales/foreclosures, i can't find anything on a locality taking possession of a property (although i think it happens in baltimore city a lot)

Has anyone seen a receivership motion go down? is there any way i can buy the place? i'm very concerned it's just going to slide into the hands of another slumlord, and i'll be in for more of the same nonsense.

Dr. Frenchenstein

Hmm sounds like it's handled the same was a foreclosure, but there are less hoops to jump through. it would go through auction most likely. sounds like that could take a long time to actually happen, but i'd have the opportunity to buy it at auction or potentially private sale. I guess you can close this!

Thanatos

Are you sure you want to buy another house that's falling apart?

And if you are sure, get it inspected, first, if you can, make sure there aren't any more surprises.

Dr. Frenchenstein

do i want to buy it? not really, unless i can get it dirt cheap. its only roughed in i think (no drywall) so any issues should be pretty glaring in the structure. Honestly, part of me wants to just rip it all down and have a yard.

Mostly i want to buy it so some scumbag doesn't pick it up for a song, and do even more damage to my property.

Bowen

Pft, buy it for a few grand, knock it down, get Mike Holmes on your property, repair the house, sell fixed house + larger property for $$$$$$

Pantshandshake

Personally, I look forward to the next round of stories from a second haunted house.

admanb

I'm looking forward to the posts a few years from now when he flips the houses for ten times what he paid for them.

tech_hunter

I am waiting for the story where he demolishes the house and finds it was in fact built on an Indian burial ground.