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.
Buying & Selling Real Estate
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 about 3 years ago on . Most recent reply

User Stats

93
Posts
54
Votes
Rob Pattison
Pro Member
  • Specialist
  • Hermosa Beach, CA
54
Votes |
93
Posts

I'm selling a SFR I foreclosed on in St. Louis. Suggestions?

Rob Pattison
Pro Member
  • Specialist
  • Hermosa Beach, CA
Posted

I bought a non-performing note back in June of 2020 on a single family home in St. Louis, MO.   Because the borrower couldn't/wouldn't perform, I now own this house as of last month in December, my attorney put the deed in my name.   I have insurance on the property.  The house is 3 bed/1.5 bath/1,141 sq feet on a 5,349 lot in the 63135 zip code built in 1940.  Realtor.com lists as is value as $63k, Zillow is estimating $52,100.   

I don't want to own this property and am now working to sell it, via Bigger Pockets and Craigslist.  I will sell "as is".

The borrower's attorney said that the borrower placed some tenants into the house and signed a year-long lease.  My attorney has asked for a copy of the lease, and so far no lease has been produced by the other party.   We are proceeding with eviction, which will take another 75 days, so into March.

Has anyone been in a similar situation and worked a successful outcome?   I'd like to sell as is to a wholesaler, rehabber or whoever, ideally cash.  I'm not interested in taking back a loan.  

  • Rob Pattison
  • Loading replies...