Desperate Sellers Who Owe Too Much for Me to Purchase? Other Options?

[Cass R. Smith]

Hi! 

I've been getting calls from some motivated sellers but their situations are about the same.  They need to sell, owe too much, house was too outdated to sell when listed with a Realtor.  Owner cant afford to upgrade the home to get what she needs to break even on the price and mortgage.  I'm not in a position to do anything creative really I'd much rather pass it on to a Realtor or someone that can help her.  She stated that she only wants to sell....no owner financing or anything else...only wants to break even and move on.  

What options can I give the seller?

[Alex Harris]

Give me a call..804-536-9128

[Cass R. Smith]

Will do! @Alex Harris 

I wont be free until about 1:30 but I'll call then.  I'm looking to give her some options this evening.   Thanks!

[Alex Harris]

Sounds good

[Jonathan Quintanilla]

Did you get everything worked out? 

[Cass R. Smith]

No I didn't...any suggestions? @Jonathan Quintanilla 

[Cass R. Smith]

I gave you a call yesterday around 2pm.  I"ll try again this evening Thanks @Alex Harris 

[Nick C.]

@Cass- Find a local realtor who specializes in negotiating short sales and have them take your offer to the bank and try to negotiate the short sale for you. You can be the end buyer and get the house, the seller gets out from the debt (break even as you stated), and the realtor can collect a fee and a commission. Everyone wins. 

This generally only works if the seller is behind on payments and the house doesn't have much retail value.

[Cass R. Smith]

Thanks I"ll work on finding someone now @Nick C.