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28724 Plymouth Rd
Livonia , MI 48150
Phone : 800.921.4755
Email : email@example.com
Frequently Asked Questions
Can Foreign Investors Buy?
Non- U.S. investors can buy property in the U.S.A. on the same basis as an American citizen. This applies to properties selling for below $500,000, which all of ours certainly are. Title companies and banks require your full name, address and date of birth.
You will be required to complete a purchase and sale agreement with Platinum Acquisitions, LLC, deposit an Earnest Money Deposit (EMD) with the licensed title company closing the property. The licensed title company will then prepare all of the necessary documentation and disperse all money involved in the transaction, which is standard practice in the state of Michigan.
Tax ramifications in regard to the appreciation or sale of foreign held property should be clarified with an appropriate accountant in your own country.
Do you offer an exit strategy if I decide to sell my property?
Yes. As a licensed brokerage, Platinum Acquisitions, LLC can list your property for sale on the open market (MLS) to solicit local purchasers, specifically primary home buyers. We also have a network of international agents who can market your property to other investors worldwide. Platinum Acquisitions, LLC does not guarantee a profit or any specific sales price. We offer free consultation with one of our staff members who can provide you with an assessment to determine your property’s market value.
What type of construction are the turnkey homes?
Detroit’s inner city is unlike any other in the United States. The vast majority of our properties are beautifully-designed brick homes. All of the homes we offer are constructed atop a basement foundation. These basements usually house the controls for the mechanical systems such as the electrical box, hot water tank, and furnace.
When are the properties typically built?
The homes we sell were built during economically prosperous times in American history including the roaring 20’s and the post WWII housing boom. You can expect year built to be between 1925 and 1960. The age of the homes will vary depending on the neighborhood.
Will my property appreciate in value?
Platinum Acquisitions does not guarantee the performance of your property appreciation. While there is no guarantee, the most recent statistics from our most credible sources in the industry* point to continued growth over the past 24 months (as of Q2 2013). As lenders continue to issue mortgages, inventory levels continue to decrease, demand steadily climbs, and property values are expected to rise.
What is the average price of a property in Detroit?
The average price for a Detroit property varies based on several factors such as the neighborhood the property is located in, the size of the property, the style of build, and the potential monthly rental yield. These factors can drastically affect the price of a property. We offer single family and multi-family detached structures in some of the top areas in the City. For “turn-key” properties, which are delivered fully refurbished, the price range is generally between $60-80k per unit. We also offer higher end homes and larger apartment complexes, pricing available upon request.