Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
Tax, SDIRAs & Cost Segregation
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

User Stats

2
Posts
0
Votes
Denise Simmons
  • Corpus Christi, TX
0
Votes |
2
Posts

Found a house and land with two credit card leans

Denise Simmons
  • Corpus Christi, TX
Posted

1) I have a friend that has a house and land that her and all of her sisters-in-laws and brothers-in-laws have been trying to sale for years. They had it on the market for a year. Then come to find out that one of the brothers-in-law(which title is in his name) has had a child support lean on it(which is now dropped from finding a job) but there is now two credit card leans on it. One of the sister-in-laws is only paying taxes on it.

Is there a way to help them get this place sold, or are they sitting ducks till credit card loans are paid off?

2) Same friend parents have a rent house they are now wanting to sale. They are doing all the repairs themselves. The friend told me they are going off a house down the block from this house sold 10 years ago for $135,000.00, which that is the price they are asking for now. Is there someplace to compare the houses to "TODAYS" prices, not years ago?

I am a newbie(trying to learn on my own) to all of this investing, wholesaling, and flipping. So I greatly appreciate any advice given.

User Stats

6,201
Posts
4,341
Votes
Dawn Anastasi
Pro Member
  • Rental Property Investor
  • Milwaukee, WI
4,341
Votes |
6,201
Posts
Dawn Anastasi
Pro Member
  • Rental Property Investor
  • Milwaukee, WI
Replied

Denise Simmons, first of all it's "lien" not "lean".

Secondly, welcome to Bigger Pockets! (Although I should have welcomed you first and corrected you second.)

Third, yes a sale from 10 years ago is not a very good comp. You can use sites like Zillow or Trulia or even your local government website (if they have one) to show recent sales in the area. If you have MLS access you can look at data that way too.

  • Dawn Anastasi
  • Account Closed
    • Investor
    • Central Valley, CA
    3,729
    Votes |
    6,037
    Posts
    Account Closed
    • Investor
    • Central Valley, CA
    Replied

    How much are the liens? Liens can be paid when the house is sold and don't normally prevent a sale. But if they total more than the house is worth, it may be possible to get the creditor to accept less than what is owed.

    PropStream logo
    PropStream
    |
    Sponsored
    Nationwide property data Use our robust, multi-sourced data to find off-market properties and close your next deal.