Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 1 year ago,

User Stats

2
Posts
0
Votes
Justin Smith
  • Investor
0
Votes |
2
Posts

Negotiate Down a judgment\Lean before selling Commercial Property. Advice please

Justin Smith
  • Investor
Posted

I currently have a commercial property that I have for sell and is under contract. I have had the property for many years since 2011. The property is being sold due to a divorce. While I was originally purchasing the property on an owner finance the previous owner had a judgment get attached to the property for 150K. I want to negotiate the lean down on the property. Currently the sell price is 250K and that will cover the lean of course. But I would like to go to the lean holders attorney who last contacted me about the judgement back in 2011 and negotiate it down. There has been no contact or attempt for them to collect since that 2011 initial contact. I believe due to the time that has elapsed that there may be some motivation to take less. It worth a shot Right...

Any Advice?

I don't plan on stating I am selling or have it under contract. That would leave no reason for them to negotiate with me. 

Should I use the divorce or just leave it to I would like to clear title and that obligation to pay them to do it. 

If I do get an agreement what should the agreement contain?

How can I get the title Co to accept the new agreement amount and not what they see on record? (Likely just take the agreement to be placed in escrow? Right?)

Thank you for your time and advice.

Loading replies...