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Updated about 9 years ago on . Most recent reply

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24
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Nick Schroeder
  • Investor
  • Cape Coral, FL
26
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24
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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

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,669
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43,113
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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..

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JLH Capital Partners

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