Updated about 12 years ago on . Most recent reply
seller owes near MV in foreclosure..options?
Hey!
I am used to just doing regular wholesalers, but I am working with a seller who has a couple properties they want to get rid of .. They owe about 100k and the property is worth about 110-120k and are in foreclosure. They have there first court date coming up, how can I get rid of these and help them since my cash offer would be around 70-80k..? What options do I have?
Thank you!
John Whitmore
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#3 Guru, Book, & Course Reviews Contributor
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Good call! Might search "short sale no equity" as there should be lots of information. Never buy with a quit claim deed in such circumstances. Any time a notice of foreclosure has been given I suggest you deal with a short sale Realtor or an attorney, investors can get sideways easily. :)