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Updated over 9 years ago on . Most recent reply
FREE Property - What's the WORST that could happen?
I have been offered a free property ($1) in a very rough part of Philadelphia. The property is a boarded up shell. I'm trying to figure out what risks I run if I purchase this and sit on it for the foreseeable future.
Aside from yearly RE taxes and HI there shouldn't be any costs I believe?
Most Popular Reply
Rick H.
#4 Marketing Your Property Contributor
#4 Marketing Your Property Contributor
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- Greater LA/Orange County area, CA
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Rick H.#4 Marketing Your Property Contributor
#4 Marketing Your Property Contributor
- Lender
- Greater LA/Orange County area, CA
@Lucas Pfaff Here's a scenario:
You record your deed and the local sheriff meets you at the property and serves you as defendant in a toxic waste super site lawsuit. As you duck into the house, you startle a squatter who shoots you in the head. You don't die but are permanently paralyzed.
You did ask what's the worst that can happen. Care to rephrase your question?