Condemnation: A Real Threat to Your Property
If you have moved out of a home that you have not sold because the market value of the property isn't sufficient to cover your mortgage or home equity loan, you may be hoping to ride out the market and wait for better times.
But if you cannot afford the cost and hassle of maintaining the real estate, you could face the serious consequence of condemnation. As houses sit vacant, they can develop problems such as burst pipes, holes in the roof, or they may be subject to break-ins. These problems, if not promptly addressed, can lead the municipality or township to ticket you and possibly to condemn your property.
Do not allow condemnation to take its toll on your home equity. Contact our attorneys for help finding an alternative, such as a short sale, that protects you and your property.
Helping You Make the Most of Your Investment
Even if you no longer live in your house — even if you have moved out of state — your real estate is still an investment. Do not just walk away from that investment. Don't wait until you have to deal with condemnation proceedings. Take action now.
If you have a standard mortgage, chances are that it requires you to keep the property in a state of good repair. If your house is condemned, you could be found in default, even if you are current on your payments. Don't let this happen to you.
Assisting Clients After the Condemnation Process has Begun
If your real estate has already entered the condemnation process, there are things your lawyer can do to help. We can receive notices from your municipality to correct deficiencies, help you proceed with those corrections and advocate for your property owner rights.
If you own a vacant property, condemnation of real estate is a real possibility but one that you can avoid. Contact us today for help with your Detroit, Michigan area real estate.
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