Got A Property Under Contract At A Halloween Party! DOCs Signed On A Ping Pong Table:)

This was a classic moment. Found another distressed property from my FaceBook contacts. Had to move fast on this one as the Home Owner is leaving town tomorrow morning to start over & get clean from drugs.

I found this property from a post of a friend of my sister & she had pics of her neighbors property.
"Human Feces in the pool"

We'll, the property turned into even more of a drug house, after the home owners walked away. There was no water or electricity & The property just got condemned The H.O.'s happen to come back to the property to get the last of there items & that's when the neighbor "my sisters friend" referred them to me.

So she will get a 1k referral fee & the H.O.'s who walked away, will avoid foreclosure & we will also get them 3k/cash for keys or we always try to have the bank pay for relocation fees.

This property should turn into a good deal for us since it's in such bad shape. Lots of ammo to support our offer.

I had to scambble to get my agent to write up the DOCS asap & get a notary over there fast. We signed the most import DOCS to get started & got the neighbor to be the Limited Power Of Attorney, so she can sign all future DOCS the bank asks for.

I will be submitting the full short sale pkg to our negotiator & hopefully we can make this a win win for everyone & bring this property back to life.
The Neighbors will be very happy.

Congrats!!! Keep us posting

travisderod's picture

Congrats!!! Keep us posting with more info on how it's going!!!

@Travis

San Diego House Solutions's picture

Will do! Just did my walk through today for the 1st time. 75-95k in rehab. Should be able to negotiate our price. Bank doesn't want to take this one back. Nasty!

Week 1 Update

San Diego House Solutions's picture

I got the short sale pkg submitted to our negotiator & I thought we might have some trouble with the neighbor being the power of attorney, but so far Title accepted it & they just wanted the original copy for when we record the deed.