Difficult Short Sale Seller
Hi guys,
I've been working with a seller who has a very hard knuckled, my way or the highway approach. Her house has been vacant for 5 years, multiple liens, multiple judgements (one of them for $30,000), house vandalized, and no insurance on the house to name a few ket points. The bank has not foreclosed on her and nothing has happened with the house for a long time. She has tried to sell it, but the bank has held up the process for one reason or another. She has required that we work with a specific law firm, which I am fine with, but is very nearly demanding that I put up over $6,000 up front to pay the attorney to negotiate her short sale which could obviously end with the bank not agreeing to my offer (no offers have been made yet). I can't agree to that sort of risk with no security of any return! I'm a new investor and would love any suggestions of how to help her see that she should want/need to sell the property. She seems eternally okay with it being vacant and all sorts of liens and judgements encumbering the title.
The biggest selling point I see is that it reduces her liability and helps her achieve a clean slate. Any suggestions on how to help her?
Most Popular Reply
Next! There is no way in h-e-double hockey sticks I would ever pay a sellers Attorney fees to negotiate a short sale. This deal has so many different ways to turn out to be no deal for you it's not even funny.