Gave the seller the same terms as their original deal with the buyer that backed out so essentially it was a delayed closing on their end.

Seller's deceased father had transferred title to his now deceased attorney.

Hi Nico, Yes, lazy listing agents are a surprisingly common problem--if only the sellers knew they were ignoring calls from interested buyers!

If you're considering a 4-tenant retail development, I'll assume you've already performed a fair amount of the preliminary due diligence and evaluation such as:* identified actual demand for the product type in the market you are considering, along with supply in process within competition area to the proposed site.* understand current market rents for the type of tenant and construction you are considering, and at your specific location.* understand delivery timelines, TI schedules, and general construction process/permitting for you and the end users.* have identified the most likely tenants for the development in question, and understand the building criteria each have for spaces.If you haven't answered "Yes" to each of the above, I would recommend pausing until you have the above nailed down.

You'll bring a downpayment based on the total project cost and you can get seller financing to help with some of the equity injection. 

Me personally, if I was told by the seller (whoever that is in this case) that the property is vacant I would go into the house and see what I just bought.

Detroit is very much a cash only market at those prices and sellers aren't generally wanting to deal with financed offers.

Purchase price: $70,000 Cash invested: $10,500 This is my first seller finance deal.

I do some that aren't, but have that in mind that you will be selling for cash, seller financing or on a much higher rate with a mobile home specific lender (higher rates).

@Bennet Sebastian, have you spoken to any industrial/flex space brokers to understand true demand in that submarket?