5-Minute Blog..........Townhome Developer Foreclosing

9:00 a.m.

The monsoon season continues here in Beaufort, SC, but not even incessant, torrential rains can spoil this place.

I had a good conversation recently with the prospective buyer of a townhome here in Beaufort. The townhome was not developer-owned, but the development itself was going into receivership.

The townhome was priced incredibly, but the buyer had concerns because of the number of outstanding liens and lawsuits against the developer.

This is something to give ample consideration to. After all, there are amenities to maintain, along with maintaining the exterior of all the buildings, the grounds, etc. All of these things could have a profound affect on property values.

At the end of the day, my buyers determined there were too many risks to proceed. You may have decided otherwise, given the same circumstances. Just make sure you have all the facts going in.

Have a great day, and let us know if you need anything. 9:06

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