seller owes near MV in foreclosure..options?

[Account Closed]

Hey!

I am used to just doing regular wholesalers, but I am working with a seller who has a couple properties they want to get rid of .. They owe about 100k and the property is worth about 110-120k and are in foreclosure. They have there first court date coming up, how can I get rid of these and help them since my cash offer would be around 70-80k..? What options do I have?

Thank you!

John Whitmore

[Bill Gulley]

Good call! Might search "short sale no equity" as there should be lots of information. Never buy with a quit claim deed in such circumstances. Any time a notice of foreclosure has been given I suggest you deal with a short sale Realtor or an attorney, investors can get sideways easily. :)