Agents say I can't help them, What do You say?
Professional · Baltimore, MD · Member since 2010 · 79 posts · 47 votes
Hey guys/gals, I got a rather difficult situation with a Seller that I need more than my brain on. Now I'm a Real Estate Agent (4 months Old), I don't have broker permission to Invest creatively, but I feel a creative solution is the only way for these people else they are homeless.
If you could look at this from Investor eyes as a type of deal, ? Maybe I can translate it to Agent side of things and help these people.
The Rundown Seller Side:
- Seller bought house $196,000 in 2006. 5 Beds 2 bath 2700 sqft.
- Got Notice of Foreclosure, June 2015
- Seller Filed Bankruptcy Chapter 7 to stall foreclosure auction, August 2015.
- House Appraised at $100,000 in Current Baltimore,MD Market 2015
- Sellers Current Mortgage Balance $150,000 , Behind in payments $30,000
- House needs at least $40,000, if not more, in Repairs and Updates
If you got this as a Seller lead, How would you handle this?
The Rundown Buyer Side:
- Seller is interested in Rent-To-Own, will have $3,000 total in January to put towards down payment and says they can afford 1,800 a month.
- Seller filed Bankruptcy Chapter 7 and is fending off Foreclosure.
If you got this as a Buyer lead, How would you handle this?
