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

30
Posts
2
Votes
KC Morgan
  • Henderson, NV
2
Votes |
30
Posts

Difficult Short Sale Seller

KC Morgan
  • Henderson, NV
Posted

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

User Stats

2,283
Posts
1,102
Votes
Charlie Fitzgerald
Pro Member
  • Lender
  • Las Vegas, NV
1,102
Votes |
2,283
Posts
Charlie Fitzgerald
Pro Member
  • Lender
  • Las Vegas, NV
Replied

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. 

  • Charlie Fitzgerald
  • Loading replies...