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Updated over 7 years ago,
Advice on Negotiating Down Charges
Hello BP
I need some quick advice. I am working on buying the property that has a previous judgement lien on it for around $18,500 and a past due mortgage with $16,900 in unpaid principal, $2,632 in unpaid interest, $1,738 in Other Unpaid Expenses, and $5738 in Escrow Impound Shortages.
Collectively this totals around $45,000. The owner had filed bankruptcy but they dismissed it so that the property could be sold and then they are going to reinstate it.
Some of these charges were a surprise that popped up on the title search by the title company.
This property only works for me if I can pay around $35,000 or less plus closing costs.
What of these charges could I call and negotiate down so that this deal would work for me and how do I do it?
Any and all advice is appreciated.
Thanks
Robert