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Updated about 10 years ago on . Most recent reply

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296
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175
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Stephen Hundley
  • Realtor
  • Lafayette, LA
175
Votes |
296
Posts

Potential Great Deal but Involves Drug Charges

Stephen Hundley
  • Realtor
  • Lafayette, LA
Posted

I found a very motivated seller that inherited a home last year and needs to sell asap.  She doesn't want the home anymore and is willing to give it away at a great price.  She says she needs $6,000 in the next 20 days to put as a down payment for her attorney to fight charges of possession of cocaine.  She says it was her friends cocaine when they got stopped by the police.  

Should I forward the deposit straight to the attorney and if so what other stipulations can I put in the contract to make sure I'm protected and can still purchase the home at a great price?   

The numbers look like this: ARV of $160,000 in one of the best school districts. Purchase price $60,000 with a $40,000 renovation.

Thank you for your insight!

Most Popular Reply

User Stats

252
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132
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David Wurzel
  • Real Estate Agent
  • Jacksonville, FL
132
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252
Posts
David Wurzel
  • Real Estate Agent
  • Jacksonville, FL
Replied

@Stephen Hundley

The two have nothing to do with each other.  Apples and oranges.  Do your due diligence, check out the title, and then go into escrow if everything checks out.

Good Luck!

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