All Forum Posts by: Frank Walton

OK, will if the home owner abandoned the house isn't the redemtion period drop down to only 30 days.

Why would the bank want the house to go into forclosure when i have a very reasonable offer on the table. The house is obviously not worth what they owe on it so wouldn't it make since for the bank to try to make this deal happen.

So here is a little bit of the facts.
1.they owe 280,000 on the house
2.are offer is 196,000
3.back taxis on the house/fed taxis 123,000.
4.The house has some damage all flooring needs replaced, 3 floor joises are saging causing drywall to pull away from ceiling, ext. ext.
5.I am the only offer on the table.

will see the bank was going to push are short sale threw but they closed the case untile the tax leans on the house are removed. The home owners already moved out and just left the house and said they don't have the money to pay for a lawyer to try to remove the leans on the house and the lawyer said he needs an appraisal of the house and the home owners don't have the money for that either. So i was wondering if i should pay for that stuff but there still is no guarantee we get the house but they need the appraisal to get things moving.

So i have been working on a short sale for about 6 months now and it's looking like it might go into forclosure because of irs leans on the house. So anyway my question is if it go's into forclosure how do you find an investor in your area or does the investor even have to be in your area to seal the deal. I just need someone who knows the forclosure processe to either buy the house and then i buy it off of the investor or if they do all the paper work and the negotiating. So any help on this would be much appreciatedthanks.

Thanks Will that kind of puts thing in perspective but you see I'm not an invester I just happen to be looking for a good deal on a house and i came across this house that was listed at 299,000 back in march. So i was just looking threw the mls and see that same house at 189,000 on approval of a short sale. Now me not being so short sale savy i just call the realtor real quick went and look at it and made an offer the same day, not really knowing what i was getting my self into.

So thats why i turned to this forum to try and find some help because i knew i was getting the run around, now if i had to do it all over again i would be getting ahold of one of you guys to do that for me.

But I think i weathered the storm and finally my offer of 196,000 held strong and i have a written agrement from the seller that my offer is final and he will not be accepting anymore offers. So now i am just waiting on the bank and it's looking good.

Also the bank we are dealing with is Wamu and i quess chase just bought them and thats why they said it's taking a little longer than usual. Thanks for the info.

Ok check this out just got the ultimatum home owner/Realtor said tommarow at 10 A.M they want final and best offer's submitted. So after 10 they will not accept anymore offers >LOL OK lets do this because there's only one other couple with an offer in and i think they will not put another offer in so my offer of 196,000 just went to 198,000 I can live with that WISH ME LUCK LOL. So tomarrow afternoon when i find out i will let you all know what happen.

LOL- How did i know you where going to come back and say that. Thanks james i have been doing that all along and the property is will worth it, but is the realtor allowed to give you that information of another offer because my realtor says it's unethical to say what the other offer is true or false?

Ok so how to you get control when the seller already hired a realtor.

yep jon the house has been on the sheriff sale for about a month and a half now and they keep cancelling at the last minut. So i have looked at that the only problem is somebody was talking and another offer came in at 1 thousand over my offer 2 month after mine was submited so i think i have some dirty realtors.

yep I agree not to get emotionally attached to the property but there's a but the wife is emotionally attached so therefore i am trying to fight for the house so i have some where to sleep LOL. I do have a realtor working for me but she says it's unethical to share other offer's which doesn't make any since to me. Hey again thanks for your time james and everybody else.

Ok thanks James- so if i really want the property and another offer comes in a little higher the best thing to do is send in another offer a little higher, but see there trying to play mind james like another offer came in and i can't tell you so what's your most and best offer it's like the realtor's trying to play auctioneer here. So he has that right and my contract means nothing even with a em check with my offer.