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Updated almost 8 years ago,
Looking for contacts in Clovis: savvy RE agent with general contr
I'm posting to help a friend with a property in Clovis, CA. She and her 2 siblings are inheriting a home in Clovis, CA from their father.
The property is currently 3 bedroom, 2 bath, 2124 sq ft, on 2+ acres in the north east part of town. What's owed on the property is such that the heirs are thinking of just letting it go into foreclosure and walking away. A complicating factor is the deceased father was sold a solar package with pretty unfavorable terms. If that was all there was to say, then I'd tell her; "sure, check with your CPA, maybe it's best to just walk away".
What's interesting is that the county shows this is a 5 bedroom, 3.5 bath, 2859 sq ft house. Apparently, there is an upstairs area that has not been completely built out yet. My friend thinks it's possible the plumbing and electrical are in place, just not the interior walls or stairs. There is an area downstairs set aside for stairs. I find it hard to believe walking away is their best option...
So, I'm looking for someone to pass on to my friend to discuss if they have a better option than letting the bank take it over. It seems to me this property is an ideal candidate for quick remodel and build out the upstairs. This is not a wholesale deal. I get nothing out of this. I'm just trying to help out a friend. The heirs probably don't want to be out-of-pocket on anything, so your favorite contractor would get paid in escrow I assume. Reach out to me if you are a savvy RE agent in the area who has experience with this sort of situation.
Thanks,
Joe