Sandra's Flint home had chronic basement water intrusion from a failed drainage system, leading to significant mold growth in the lower level. A 2022 structural inspection identified foundation wall cracks requiring repair. Sandra was relocating to be near family and couldn't afford the $22,000-30,000 in remediation and repairs needed to list traditionally.
Mold and active water intrusion make a property unfinanceable through traditional channels. Sandra had already gotten two contractor bids but couldn't fund the work. Vacant, the house was accumulating city citations for exterior maintenance. She needed to sell before the citations became liens.
7 Lakes Properties conducted a thorough assessment including a structural engineer walkthrough. We made a written offer of $58,000 as-is — factoring in remediation costs, foundation repair, and full renovation. Sandra was under no obligation to do any work before closing.
Closed 21 days after offer acceptance. Sandra received net proceeds of $52,400 after two small property tax liens were paid at closing. She relocated to Grand Rapids and the city citations were transferred to the new owner (7 Lakes Properties) at closing. 7 Lakes Properties completed full remediation and renovation within 90 days.
"I thought that house was going to be my albatross forever. 7 Lakes Properties turned it into a fresh start."— Sandra M., Flint MI
Get a free cash offer within 24 hours. Every situation is different — let's talk about yours.
