All Forum Posts by: Nick Seevers

Thanks Mark.

Current owner is the owner that died. 

I was driving for dollars and have found a house that the owner died in 2014, my search shows no children and no probate in the county records. There was a $150,000 loan taken out in 2007, it has moved to pre-foreclosure in January, but no sales date has been posted since 1/2017. 

Is it possible to contact the bank (assuming the loan is still outstanding) to purchase the house? I think that it may be a tax foreclosure (in CA it's 5 years, we're going on 3 years since the owners death). Any ideas on who to contact in regards to purchasing this property would be greatly appreciated. 

I got an appraisal back on a $400k fixer that had the garage converted. The appraiser took $15k off for not having a garage on the subject property while the comps all had them.

In Sacramento (California, really) it is very difficult for the seller to keep the deposit, regardless of what the buyer does. Title will not release the deposit to the seller with out the buyer agreeing and only if the buyer agrees.
It's probably not worth it, unless it's a large deposit. If they did not perform you may win, but if it's not too much money may not be worth it.

Was wondering if you got this fixed or what ended up happening?

Sorry to post so late on this but for the rekey fee I have given a copy of a receipt of a new lock from Home Depot and that has waived the $150 re key fee. These were FHA buyers (I'm an agent) that were getting closing costs, etc. and nobody has raised any problems with me buying the buyers a new lock.

As a Northern California resident I found this interesting: http://www.businessweek.com/news/2012-05-30/toll-buying-half-of-a-2-379-home-california-subdivision

Thanks Ann. I'm going to continue to look and learn more, clearly I'm not quite sure of all the things I need to be looking out for. Seemed to make sense to me until you actually run it all the way through, and realize that there are costs that I don't think about.

Would that be a typical amount of interest? 80k paid back on $67k borrowed say for 4 months?