Bought an undisclosed condemned property.

[jayeconsultant@]

Ohio- bought an investment property Dec 2015 8n Warren Ohio. Had a buyer willing to rehab the house. Had the basement and foundation repaired. Found out house is condemned. Commissioner wont work with me. He said seller knew it had b3en condemned when she sold it to me. I live in Dallas. What to do next?

 

[OHRoadwarrior]

There is no law regarding the sale as she was the owner. At most you could try to get a temporary court injunction to stop demolition and allow you to bring it up to code. It sounds like rehab is an under statement and just covering over defects will not be accepting in permitting. The home likely requires a complete rewire and new plumbing, possibly a new foundation. Houses in livable condition in warren can sell for $10k.

 

[xylene]

Hire a lawyer.

You need to think cost mitigation here, not recovering investment and and profit.

You could be on the hook for demo costs.

 

[quincy]

Ohio- bought an investment property Dec 2015 8n Warren Ohio. Had a buyer willing to rehab the house. Had the basement and foundation repaired. Found out house is condemned. Commissioner wont work with me. He said seller knew it had b3en condemned when she sold it to me. I live in Dallas. What to do next?

Under what conditions was the house sold (e.g., foreclosure sale)?

Were you provided with a seller's disclosure form prior to purchase?

Here is a link to Ohio's law on property disclosure: http://codes.ohio.gov/orc/5302.30v1

 

[FarmerJ]

Just wondering if it occurred to you to call that cities inspections desk to learn if there were any work orders on the property before you made a offer ?
Is that property zoned so it can be used for something else other than a house ? ( I can see with a condemn order that the property would have to be made to meet new code compliance now which can be a huge game changer) if you would care to post about your consult with a Attorney it would be nice of you, many don't.