All Forum Posts by: Account Closed

A friend of mine came to me with a dilemma. This is a new one to me so I figured I would ask the group. My friend had outright owned some property in Southern California and in '99 sold it to someone providing the buyer with owner financing. It was a parcel of land of about 20 acres with no structures on it. My friend put the buyer's name on the grant deed. In 2005, the buyer defaulted on the loan and in 2005 the grant deed was put back in my friend's name. The new assessed value on the property is significantly higher than it was when he purchasesd it before '99. He now pays a higher real estate tax each year because of the new assessed value of the property was which put in place in 2005. Is there a way he can have the assessed value brought back to when he had originally purchased it or is he stuck with the new assessed value?
Thanks

Contract was done with an investor and the deal fell through although the short sale was approved. Now the property is listed with an agent, but the agent/broker did not do the negotiating, just has the listing. I can come in as new buyer and or assign the property, but I need to be control of the property to assign it to a specific investor I have.

Thanks, I figure all the other paperwork is already in place because the short sale has already been approved.
Once I have the option to purchase and assign, do I contact the bank for approval? Is there any other paperwork the bank will require?

I have an approved short sale property brought to me by a realtor. It had fallen out of escrow with the original buyer. I have investors that might be willing to buy the property. The question I have is how do I get control of the property in order to assign it to an investor? The broker should currently have control, so how do I get control and assign it and also have the realtor/broker make their commission as well? What paperwork would I need signed, would it be an option contract and who would it be made with? Is this deal even possible?

Welcome to the site. Boston is a beautiful area and definitely one that people should visit at least once. Good food, I don't know about the best cannoli in the US (I'm a little biased being an Italian native NYC guy who used to eat in Little Italy. lol), and a lot of history. Love the cobblestone streets. Read the forums and ask all the questions you may have. There is a wealth of knowledge here provided by some very experienced investors.

Welcome to the forum.

Welcome to the site. Feel free to ask any questions you may have. There are a lot of experienced RE investors here that can provide you with a wealth of knowledge in the areas you are interested in. Good luck to you.

Welcome to the site. Do you deal with any properties in Costa Rica?

Welcome to the site. Feel free to ask any questions you have. There are a lot of experienced investors here that are happy to help.

Welcome to the site. Sounds like you are doing very well at REI and building an empire. It's always great to see others doing well in their endeavors. Keep up the good work.