I know, I know. All those brokers keep saying there's nothing to be afraid of.
Sure the price is half the inn's value and, for some, that might be considered a warning sign. No financials available. No info available at all, for that matter.
But at half-price, what's to lose?
Well, it turns out, plenty.
Sure, you have an attorney. And, of course, you have title insurance. But if the lender didn't have title to the property - and many don't right now - that title insurance may be worthless.
Yep, you might be buying an inn that the bank doesn't actually own.
I don't know about you but, for me, that's plenty to be afraid of. At any price.
