Updated about 9 years ago on . Most recent reply
Could be your first property
Can you say "NEWBY?" My husband and I acquired a distressed, abandoned and tax liened home in The great City of Chicago. We were going to try to rehabbed it and sell however we live in Ok and time just kept passing and the city fees just kept adding up. Now someone has bought one year of taxes. To make a long long story short we want to just get rid of the property. It's worth 127k minus the whopping 22k fees. Here's the question, can we somehow negotiate the cost of some of the fees before selling?
Most Popular Reply
Rick H.
#4 Marketing Your Property Contributor
#4 Marketing Your Property Contributor
- Lender
- Greater LA/Orange County area, CA
- 3,550
- Votes |
- 3,866
- Posts
Rick H.#4 Marketing Your Property Contributor
#4 Marketing Your Property Contributor
- Lender
- Greater LA/Orange County area, CA
Your opinion that "...it's worth $127K..." is relative.
You are in "Equity Salvage" mode or at least you ought to be (IMHO).
Auction it, swap it, or barter it quickly, before the seasons change and harsh Chicago weather
I'd construct a compelling flyer, price it right, pitch it at real estate clubs (including Chicago REIA's).
Also, complete you profile, upload a face pix and upgrade to Pro account. Then you can market your property here on BP.
From your proceeds, set a certain amount of money asides or your real estate education, for which you just got one on buying out-of-area.