All Forum Posts by: Account Closed

@Elizabeth Wilson  I certainly will ! :)

@Elizabeth Wilson I am actually dealing directly with the owner. The property is scheduled for auction in late April however I intend to get it paid off and under contract before the auction.

thank you so much @Ruth Bayang :) i was thinking the same thing.

I am getting familiar with Washington State absentee-owners in foreclosure. Now before anyone gets all "excited", absentee owners are fair game in regards to foreclosure so lets please not open up that can of worms. Anyhow, I wanted to know if someone could give me some insight on what I can do with these numbers as a wholesaler. 

Property is condemned - does this mean the owner no longer has the right to sell per eminant domaine? Or just that the property is uninhabitable? 

Foreclosure amount: $52k

Original Mortgage Amount: $80k

Unpaid balance: $70k

Set for auction: (Late April)...

Comps in the neighborhood are around: $200k

considering the circumstances, does this sound like a deal? My biggest concern is that it is condemned but I am assuming there's an investor out there who could demo the house if the numbers look right. 

@Ruth Bayang I spoke with him over the phone once but havent been able to connect ever since. Time is of the essence therefore I may need to look elsewhere. @Steve Vaughan thank you! My assignment agreement is from Florida and I want to make sure it's "legal" in Washington. I will definitely advise the buyer to seek legal advise :)

Hello, I am needing to find a Washington State Real Estate Attorney who specializes in wholesaling. I would like to schedule a consultation asap and do a document review. 

I need an attorney who is immediately available because I have deals coming in and need my agreements (P&S and Assignment) to be customized to Washington State. 

Good point @Nick C. ...would this be a scenario where you offer $3k, $6k, or $10k as a last resort? And if so, whose profit does this typically come out of? The Investor-Buyer?

Hello BP family. This is a hypothetical scenario, but I was curious if any other wholesalers in Washington have been asked to have tenants out before proceeding with the deal. If the tenant is still in a valid lease, how does this normally work out (evicting)?

I understand this is more of a legal question and I'm not asking for legal advise- I'm just curious about the experience of others in this situation.

I'm  actually asking in a hypothetical scenario however, I will keep that in mind @Brian Cohen. Thanks!

I think the scenario I will likely find myself in is a tenant who is still within their lease term. 

@Account ClosedAhhh, well that was a common sense answer :) thank you! I tend to overthink things.