It has been a constant problem knowing what to tell
people who wish to help what can be done about this
situation.
Since Destiny-98 gained control of the property and was not
competent to realistically evaluate it's market price, there was little to
be gained by attempting to negotiate a buy-back price.
Destiny-98 had maintained in the past that the property was worth
$300,000, then they were willing to accept $50,000, then $300,000 again,
then they affirmed that they had a "cash buyer", a "bargain hunter" at
$180,000 - an offer I had advised them to accept here. In an attempt to
sell the property to a third party, they again asserted that it was worth
$180,000, cash sale.
None of these prices, except perhaps the $50K figure, was in the least
bit realistic.
For a while, REO America was running an ad in the Ann Arbor News
classifieds under 'Farms and Acreage-Sale' that listed 1960 S Maple as
a "MUST SELL" property, "MAKE AN OFFER - Cash buyers only!" that
perpetuated the canard that the property has commercial potential.
The phone number given was for REO America. It is a scan of this ad
that appears on our Home Page...
Since simply sending Destiny-98 sacks of cash was not an option, and
now that Donald E Reiff of Ann Arbor has bought the property from
Destiny, the following are some constructive suggestions:
1. Contact the parties involved and let them know how you feel
and what you think they ought to do. Addresses etc can be
found at this link. Destiny-98 and operations of their kind seek
obscurity in which to operate. Deny it to them.
2.There have been offers of financial aid which I have been
reluctant to accept until some structure for re-purchasing 1960 S
Maple is in place, otherwise, there is no way to plan for
reimbursement.
In spite of this, there are options that can help which will be
elaborated later.
3.Lastly, if you live in a State or County where tax lien or tax
deed sales are part of the property tax collection process,
contact you State or County Treasurer and urge them to adopt a
plan modeled after that in place in Michigan which is now
structured to prevent situations like 1960 S Maple's.
Here is the site for the Washtenaw County Treasurer outlining
the new property tax collection procedures (1960 S Maple is
located in Washtenaw Cty):
http://www.ewashtenaw.org/government/treasurer/tr_taxes.html
Contact Washtenaw County Treasurer Catherine McClary for
further information:
http://www.ewashtenaw.org/contact_us
people who wish to help what can be done about this
situation.
Since Destiny-98 gained control of the property and was not
competent to realistically evaluate it's market price, there was little to
be gained by attempting to negotiate a buy-back price.
Destiny-98 had maintained in the past that the property was worth
$300,000, then they were willing to accept $50,000, then $300,000 again,
then they affirmed that they had a "cash buyer", a "bargain hunter" at
$180,000 - an offer I had advised them to accept here. In an attempt to
sell the property to a third party, they again asserted that it was worth
$180,000, cash sale.
None of these prices, except perhaps the $50K figure, was in the least
bit realistic.
For a while, REO America was running an ad in the Ann Arbor News
classifieds under 'Farms and Acreage-Sale' that listed 1960 S Maple as
a "MUST SELL" property, "MAKE AN OFFER - Cash buyers only!" that
perpetuated the canard that the property has commercial potential.
The phone number given was for REO America. It is a scan of this ad
that appears on our Home Page...
Since simply sending Destiny-98 sacks of cash was not an option, and
now that Donald E Reiff of Ann Arbor has bought the property from
Destiny, the following are some constructive suggestions:
1. Contact the parties involved and let them know how you feel
and what you think they ought to do. Addresses etc can be
found at this link. Destiny-98 and operations of their kind seek
obscurity in which to operate. Deny it to them.
2.There have been offers of financial aid which I have been
reluctant to accept until some structure for re-purchasing 1960 S
Maple is in place, otherwise, there is no way to plan for
reimbursement.
In spite of this, there are options that can help which will be
elaborated later.
3.Lastly, if you live in a State or County where tax lien or tax
deed sales are part of the property tax collection process,
contact you State or County Treasurer and urge them to adopt a
plan modeled after that in place in Michigan which is now
structured to prevent situations like 1960 S Maple's.
Here is the site for the Washtenaw County Treasurer outlining
the new property tax collection procedures (1960 S Maple is
located in Washtenaw Cty):
http://www.ewashtenaw.org/government/treasurer/tr_taxes.html
Contact Washtenaw County Treasurer Catherine McClary for
further information:
http://www.ewashtenaw.org/contact_us
As always, comments and corrections are welcome,
especially if you or someone you know has had any
experience dealing with tax lien "investors". Share your
story:
especially if you or someone you know has had any
experience dealing with tax lien "investors". Share your
story:
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