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Updated over 3 years ago on . Most recent reply

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David Wasiloski
  • West Chester, PA
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Distressed property owner walked away

David Wasiloski
  • West Chester, PA
Posted

I found a property the owner walked away from 2 years ago.  The property has not gone into foreclosure yet because of covid. I spoke with the owner who said the mortgage was/is with USDA.  Any ideas on how to secure this property. I’m open to ideas?

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Zackary C Dunn
  • Contractor
  • Tampa FL
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Zackary C Dunn
  • Contractor
  • Tampa FL
Replied

I could be reading into it too far, but it sounds like the owner is sitting on his hands and not wanting to take any action to get rid of it.

If that's the case you need to make it as easy as possible for him. Get him to give you permission to enter the home and evaluate its condition. Once you can determine its value send him a prefilled offer on docusign/ or overnight mail that all he has to do is sign. Finding the financing on a good deal is the easy part.

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