All Forum Posts by: Account Closed

Good Afternoon BP community,

Does anyone have any experience with the NCC sheriff sale held in Wilmington Delaware. I have been trying to do research but there is very limited information about it. I am considering going in October. I also noticed from past sheriff sales that the city of Wilmington ends up buy many of the tax delinquent properties, is there any reason for this? I’m new to sheriff sales, Thanks for the help!!

Hello all,

I found a vacant home recently , I skip-traced the home and left a message for owners. In return I received a call from a realtor who told me the family was interested in selling and that they preferred to use a realtor to negotiate. They accepted my offer, and the realtor presented with a standard realtor contract. Part of the contract states that I can’t assign unless otherwise giving written consent to seller. I never told the realtor that I intended to wholesale contract. What should I do? Is the fact that the house is off market make a difference?

You’re help is greatly appreciated.

I live in Philadelphia, does anyone know if there is a double transfer tax for assigning contracts in Pennsylvania?. My title company warned me of this but I’ve never heard anyone mention this to me, is this normal.

I just put a property under contract in south philly today. On the purchase contract with seller I stated that Earnest money deposit would be 2500 to title company . When I find my end buyer, is it ok for me to make the earnest money deposit for end buyer 5k? Or should I just keep it at 2500 for end buyer? Also if the end buyer backs out where does that earnest money go??

Thank you.

I forgot to mention that 63k is owed on the mortgage and that includes the back mortgage payments, it’s at 5 percent interest.

Hello BP family,

I came across an interesting deal. I found a house that has people who are behind on mortgage and in pre foreclosure. The owner cannot pay due to having a stroke and wants to sell or have someone take over payments .The home is assessed by the city for 88k. The back mortgage is 13k and the PITI payment is 532 per month . From talking to the owner she states the home is not in bad condition at all.

How should I go out executing this deal properly,

Would it make sense to wholesale it? or to subject to the property myself, borrow funds to repair and back pay then lease option property? Is this a deal, you answers are greatly appreciated.

Hello BP family,

I came across an interesting deal. I found a house that has people who are behind on mortgage and in pre foreclosure. The owner cannot pay due to having a stroke and wants to sell or have someone take over payments .The home is assessed by the city for 88k. The back mortgage is 13k and the PITI payment is 532 per month . From talking to the owner she states the home is not in bad condition at all.

How should I go out executing this deal properly,

Would it make sense to wholesale it? or to subject to the property myself, borrow funds to repair and back pay then lease option property? Is this a deal, you answers are greatly appreciated.

@Ned Carey I have permission from the owner , she lives in Indiana, I could have some of her family members take it down for me but I wanted to make sure that because the city of Philadelphia sealed the property that I would need there permission to take down.

Once L & I seals and boards up property do you need approval from the city to get inside and view? Especially when the owner is out of state.

Does anyone know which title companies in philly are wholesaler friendly and easy to work with. I know the process may not always be easy but I want a title company that knows what they are doing and can help me close in timely fashion. Thank you!