All Forum Posts by: Account Closed

I think you are focusing on the wrong issue.  The limited or full authority or powers matters not in this case.  You've got a known and filed and over encumbering Medi-Cal claim.  The sale is being court supervised because the Dept. of Health Care Services has a claim.

Medi-Cal will not settle.  They end up with all proceeds from the sale not taken by the attorney, the PR and other creditors.  So, the RM lender gets paid, the attorney will get paid, the PR will get paid and Medi-Cal will get the rest. The issue I see is how to get your likely discounted offer approved.  The objecting claimant and Medi-Cal will be notified of the sale during the 15 day notice period.  The claimant likely thinks there is equity when there is not, so they might quietly go away.  Medi-Cal will not.  They will want assurance that the property is being sold for highest and best value.

As to the hardship claim:  there might be a play there.  If the PR can successfully get the Medi-Cal claim dismissed based on hardship or disability, then she can take title and sell to you.  With equity, then the objecting claimant is back in the picture.  

I've seen all kinds of crazy objectors show up in probate, but to be honest many of them have a potentially legitimate claim but the property is usually over encumbered.  There seems to be a correlation with no equity and objecting claimants. Hmm.

@Rick H. What do you think? A possible hardship claim to eliminate Medi-Cal.  And depending legitimacy of the objector's claim, maybe a buy out?  All on a $150K prop.  The brain cells expended by everyone in this thread are worth more than this deal.  

It's market specific.  Anyone who hasn't been in a hot market where everything goes pending asap doesn't understand it. The OP is in an active market where everything that isn't terrible is selling.  He'll get offers.  The issue will be comps, and whether his buyers can get the appraisal and/or have the cash needed to sell at his price. 

I think staging isn't a good value in some markets.  It's not done in houses under $300K in my farms.  A full rehab is the staging.  If the buyers have tons of beautiful rehabs to choose from, then staging is a way to stand out.  It's also useful to give buyers ideas for for difficult or out of the norm spaces.  Staging doesn't add value, only buyer interest.  Your DOM and offers will tell you everything you need to know.   If you are priced properly, I say you get full price offers the first weekend. Great job.  

@Jay Hinrichs !!!! on a podcast !!!!  So much easier (and warmer) than hunting him down in OR.  And cheaper than meeting up in Hawaii.

I hear you on the jumping in.  Some things are worth the risk just to learn the ins and outs which can't be learned any other way.  You say you are in negotiation for purchase, but do you mean you are trying to discount the lien?  You are already the owner if you bought it at hoa foreclosure 

So then...that's a no?  Thanks Dion!

The thing is she may be getting paid.  We don't know that the wholesaler isn't paying her something to bring his deal to her buyer.  I really dislike that she is asking for payment after it's under contract.  Unless she's a total noob and made a mistake, there's something not right about her request.

@Dion DePaoli Is PMI for borrowers being financed by private lenders even a thing?

But is PMI even available to borrowers with private lenders. You'd have to create a loan with down and a file the meets the insurance requirements......but who would write that policy for a seller financed borrower?

Those links don't contain any info about how a seller offering seller financing can find PMI for their borrower/buyer. Do you know who is offering such a product? And what the requirements are?