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Updated about 4 years ago, 10/15/2020
Padlock on door owner doesn’t know about
I wholesale properties and have a property under contract for a excellent price. I went to see the property and it’s a padlock on the door with a not in the back with violation 108.1.3 I live in Chicago what does that mean?
Originally posted by @Deonte Palmer:
I wholesale properties and have a property under contract for a excellent price. I went to see the property and it’s a padlock on the door with a not in the back with violation 108.1.3 I live in Chicago what does that mean?
I just googled this:
108.1.3 Structure unfit for human occupancy. A structure is unfit for human
occupancy whenever the code official finds that such structure is unsafe, unlawful or, because
of the degree to which the structure is in disrepair or lacks maintenance, is unsanitary, vermin or
rat infested, contains filth and contamination, or lacks ventilation, illumination, sanitary or
heating facilities or other essential equipment required by this code, or because the location of
the structure constitutes a hazard to the occupants of the structure or to the public.
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So you have a property under contract you’d never seen?
I don't see that as a problem. In fact, assuming you have a good contract, you have the opportunity to renegotiate if necessary. After all, this is all in the discovery phase.
Also, if the owner doesn't even know about this, then he's a great candidate for getting rid of the property at a great discount. Think about it. If you owned a property (perhaps far from home) that you want to get rid of, and you find out it's in such distress that there's this violation against it, you would probably be willing to get rid of it ASAP.
Good luck!