SHORT SALE ~ DEAL or NO DEAL?
Not Sure? Received a call about a Triplex for sale initially @ $195K per another quote un-quote wholesaler, by the way his wife is a real estate agent. Supposely, the owner gave the property back to the bank. As I dig deeper prior to submitting a contract, I find out the owner has a Lien "Yike" in the amount of $160K & per the whole sale it was reducted to $21K. I did my due diligence and checked with the city & code enforcement states the bill is still accruing at $100 per day per for the past 3 years. The owner refuses to hook-up the plumbing to the city sewer.
Is this a DEAL or No DEAL? Property located in a nice area and each unit is rented, Property needs a new Roof, Kitchen & Baths need updating. Although, I predict the A/C & Electrical may need updating at some point not sure about the plumbing.
Is it possible to make an offer on a short sale th