Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
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
  • Lender
  • Las Vegas, NV
1,102
Votes |
2,283
Posts
Charlie Fitzgerald
  • 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...