All Forum Posts by: Account Closed

Jon Holdman I'm under the impression short sales are banked owned. This seems like unique situation because it is not owned by the bank and the owners owe 180,000 but I believe the house is only worth about 130,000-140,000. Is this still an example of a short sale? Can I offer below what they owe and have them carry the debt?

Jon Holdman I will look into it. Thanks for taking the time to help.

Jon Holdman Could you explain more in depth, please? I am not too familiar with short sales. Thanks Jon

Hi BP community, I've had multiple responses from my first yellow letter marketing campaign. A few owners owe more than the house is even worth. I'm sure these are dead deals but if they want out of the house bad enough is there anyway I can offer them a well below price than what they owe and they somehow carry the debt? If anyone has had experience with this, your input is appreciated. Thank you.

@Chris Martin Uhhh… yes, that would be the obvious route. Although, I don't think going out to measure the house is the best idea or worth my time. I just need an idea of the square footage in order to pull legitamate comps. I am not looking for an exact number. I couldn't care less about the actually square footage, as long as it is close.

Thanks though.

Damon Armstrong Once on the assessors website do you know what link to go to?

Hi everyone,

How do I find out a properties legit SF. I have possible prospects that I believe are lying dramatically about the SF of their homes in order to get a better deal. How can I find out the actually square footage of their home?

Hi everyone, I know, I know... "Take a look at other forum threads before you post one on the same topic" - I've already done this and I need a more specific answer. I need a legitimate site to pull comps from that's easy to use. What do you as other investors personally use? P.S I've tried getting a hold of real-quest.com for the past 3 days including today and they are nearly impossible to get a hold of- at this point I refuse to do business with them.

@Wayne Brooks

Thank you. But I've been searching google trying to find the most recent and legitamite contract for Illinois but some seem very old so I just wanted to make sure I'm still able to use them. Would you mind taking a look at this link to clarify for me? I'd appreciate it.

http://ilfls.com/free/realestate_forms.php

On this page, are the only contracts I will need the Illinois Real Estate Sales Contract and Illinois Assignment of Contract?

@Wayne Brooks

Wayne,

Hope you're having a good holiday.

Do you know where I can get my hands on a standard real estate contract for Illinois?