Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago on . Most recent reply

User Stats

22
Posts
5
Votes
David Wasiloski
  • West Chester, PA
5
Votes |
22
Posts

Distressed property owner walked away

David Wasiloski
  • West Chester, PA
Posted

I found a property the owner walked away from 2 years ago.  The property has not gone into foreclosure yet because of covid. I spoke with the owner who said the mortgage was/is with USDA.  Any ideas on how to secure this property. I’m open to ideas?

Most Popular Reply

User Stats

123
Posts
64
Votes
Zackary C Dunn
  • Contractor
  • Tampa FL
64
Votes |
123
Posts
Zackary C Dunn
  • Contractor
  • Tampa FL
Replied

I could be reading into it too far, but it sounds like the owner is sitting on his hands and not wanting to take any action to get rid of it.

If that's the case you need to make it as easy as possible for him. Get him to give you permission to enter the home and evaluate its condition. Once you can determine its value send him a prefilled offer on docusign/ or overnight mail that all he has to do is sign. Finding the financing on a good deal is the easy part.

Loading replies...