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Updated almost 6 years ago, 01/15/2019

User Stats

5
Posts
0
Votes
Ingrid Bailey
0
Votes |
5
Posts

Quitclaim or walk away?

Ingrid Bailey
Posted

Bear with me.

Owner has inherited property, the other heirs signed over their ownership to her. Turns out several of heirs had liens (hospital bills, tax debt). Comps in area range from $37K- $60K. Her house, ARV would be about $42K. Needs $15K in work/updates.

The previous liens total about $15K, which she is trying to quitclaim to end owner in order to sell for about $10K - $18K.

I've done traditional wholesale assignment deals, but I'm trying to see if there is anything in this deal to continue working with owner.  

My husband (partner) says no - I just want to check on creative options we haven't considered (and I've built rapport with the owner, and she needs help).  

So...?