All Forum Posts by: Paul Danieli

You are correct.  If you are buying the house from your best friend, the earnest money decision is between you and him.  The lender has nothing to do with that.  Earnest money can be as little as 0.  It is not required for a binding contract, only customary.  Did you choose the lender?  Did you sign a contract with your friend?  If you didn't choose that lender, don't use that lender.  If you already signed a contract with your friend, the earnest money is already taken care of.  Any earnest money in the contract between your friend and original seller is not your concern or responsibility. 

Here is my why. . .

http://tinyurl.com/l5sw95e

Short version:  It's the people, the challenge,  and the memories. 

Great story.

Way to Go!

Go ahead and send your letter to all of the addresses, since you're not sure which one is correct.

As for the cost of listsource,  you should receive an email from an account exec at corelogic.com.  They will offer to set up a concierge account for you at 8 cents per lead.  I think the regular price you see online is about 15 cents.  You can message me if you don't get an email from them and I'll send you the contact info.

 In Maryland, evictions are handled in District court.  Landlords obtain a Judgement, which leads to a hearing in District court.  So, in Maryland you could ask to see who has filed a Judgement for eviction.  That would be the equivalent of what you suggested.

Hi Dolita,

Take a look at Listsource.com .  You can learn how to do customized searches that include equity.  Of course, you would have to pay to get the list, but they will give you the correct mailing address.  The only other way I know to get the info you are searching for is to spend some time at your local county courthouse.  The people there can teach you how to find the information you seek.  You can find the original loan amount and the assessed value.  You should also be able to find the address that the tax bill is mailed to.  This way takes a long time, but while spending that time at the courthouse, you will meet the people that can help you learn how to search through those records.  The listsoource way is much quicker, if you have the money to pay for the list.  Don't pay the retail price though.  Ask them for a concierge account and you'll get a  discount.

Hope this helps

Congrats on getting started with your letter writing campaign.  That must have been a real chore to hand write 250 letters.  What kind of seller are you targeting with those letters?  I hope you didn't send them all to people who "really had no reason to sell".

Personally, I have never heard of Eviction Court and you may not have such a thing in your county, but Christopher is on the right track with the county courthouse.  If you are on a tight budget and want to set a 50 letter limit, start at your county courthouse and have a plan for exactly the type of owner you want to reach.  Here is how I did it, and I found my 1st deal with my 2nd letter:  http://tinyurl.com/l5sw95e

See @Bill Gulley 's comments here:  http://beta.biggerpockets.com/forums/311/topics/12...

Also, maybe buyer #1 is just out of Cash or strapped for time.  Always good to have a fallback plan.