All Forum Posts by: Cherilyn Morgan

That's an expensive lesson to learn! I personally would want to recoup the money that is owed to me, especially for the appliances. However, you do have to consider a few things. First, will the time, effort, and money spent attempting to recover your losses be worth it? Or, will you spend more money than what is owed? If it is not worth it, you might want to think about proceeding. However, you also have to remember that this is business. You went above and beyond what is necessary or even expected of a landlord. You absolutely have the right to collect upon your debt. I wish you well in whatever decision you make. 

Welcome to the BP community, @Michael Simler!

You're very welcome, that is a good link. It details the entire process.

@Rafael Floresta

 If you are the successful bidder of a property being sold at Sheriff's Sale in a foreclosure action, you will receive title free and clear from the previous owners debts, including tax liens. Please see the link provided below, specifically Section VII on page 11.

http://www.alexandergeiger.com/articles/foreclosure_process_pennsylvania.pdf 

Hi @Charles Wu

 Welcome to the BP community! The areas of interest in Philadelphia you mentioned are up and coming. Check out the "Learn" tab on BP, there's a wealth of information that can help you achieve your goals, from blogs to podcasts and more. Good luck!

When you say "put his name down", what did she put his name down on? The deed? If his name is on a new deed then he is indeed a co-owner with interest in the property. This is where the title search will help you. You will be able to find out exactly who owns the property.

As a fellow newbie to the BP community, welcome!

Are you talking about property taxes? If you are, the property will not be exposed to a Sheriff's sale, it will be exposed to a tax sale. In Philadelphia there are judicial tax sales and upset tax sales. Upset tax sales divest the taxes only and the new owner will be responsible for all other debt attached to the property. Judicial tax sales divest all liens on the property filed before the sale. 

If and when the properties are sold at a tax sale the co-owners' interest in the property will be divested. Also, you can contact a title insurance company for a title search to see exactly what you are dealing with (which is highly recommended). Good luck!

You seem to be dealing with two separate issues. First and foremost, why has the property not sold yet? You might want to re-check the comps in the area and possibly reduce the price. Also, you mention that it has not gotten much buzz on the market. How is it listed? Have you had any open houses? What marketing have you done? No one will know you have a house for sale unless you tell them. 

As other members have mentioned, you might want to list it for rent as well. If you still can't seem to move the property you might just want to think about contacting a real estate agent.

Lastly, in regards to your credit, have you considered consolidating your debt onto a low interest credit card until the property sells? That is not the best idea but it might buy you a little time until you can get out from under this flip. Good luck!

Thank you @Stephen Dillard

 from a fellow New Jerseyan, I certainly appreciate it!