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 almost 9 years ago on . Most recent reply

User Stats

24
Posts
26
Votes
Nick Schroeder
  • Investor
  • Cape Coral, FL
26
Votes |
24
Posts

Vehicle in Garage that we are closing on in 2 weeks

Nick Schroeder
  • Investor
  • Cape Coral, FL
Posted

Good evening BP followers.

We are closing on a property in about 2 weeks. The owner had passed away about a year ago and family members are now selling the property.

In the Garage is a vehicle that belongs to the bank. The listing agent has informed me today that IF i want to get the car I will have to pay the bank $10.000,00 by the end of this month or $12.000,00 next month. The car I estimate is worth only between 3k-5k, so no way I would pay 10k for it.

What can I do should the car be still in the garage after closing? Can I charge the bank storage fees until they pick it up? Is there a maximum $ amount per day I can charge?   I live in Florida btw.

Any advice would be highly appreciated.

kind regards

Nick

Most Popular Reply

User Stats

42,675
Posts
62,837
Votes
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
62,837
Votes |
42,675
Posts
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

Nothing to add here than a instance I had the semi same thing with a bank

We bought a Tree farm in Oregon 700 plus acres.. and it came with a full time caretaker. The caretaker had bought his own double wide MH and put it on our property.. City water was there and there was a septic.  He decamped one day.. and now I had this MH on my property.. I found lender.. through county records they owed 45k against it.. I told lender come and get it..

end of story I paid them 6k for it and they left it..  Car is a little different but you never know when a lender will just take a few bucks and walk.

I would like others say just move it to the street and call it a day.

I have one right now this is kind of unique.. hoarder home.. ( we have all dealt with those I am sure) well this hoarder was special.. he dismantled a car brought it down to the basement and reassembled it. so I have a fully grown car in the basement.. I intend to raise the house and build three new homes. So I am thinking I will just get a crane to lift it out and put it on a flat bed LOL..

business profile image
JLH Capital Partners

Loading replies...