All Forum Posts by: Victor Barboza

Hi, I have little confusion on how the mortgage is taken care of on a wholesale deal at closing. For example:

Suppose the ARV of the property is $150,000, and they owe $40,000, and you make an offer for $65,000. Would the outstanding mortgage be paid off at closing and the seller be left with the difference of $25,000?

Or suppose your offer is exactly what is owed, at closing would you ultimately just be paying off what they owe?  

Just wondering if anyone has a template or a specific wholesale contracts that you have used, and that are good to use in Arizona. Thank you!

@Bob Okenwa

I have used the county assessor's website one this property. The property has been inherited, however the new owners of the house did not change the title on the property. This house is currently vacant, and my guess is that the new owners live out of state.

How would you go about finding them through utilities? I have heard of this method before but never got into detail or researched about it. I called the City of Phoenix and asked if they could help me find who the last person the paid a utility on that house was. The rep that I spoke with told me that she could not provide me with that information due to me not being the home owner. Was she maybe confused and I am able to get that info? I would think of this as a public record but I could be wrong. 

Thank you!

Is that an appropriate method to use to find the owner of an abandoned house? Meaning if I call the City of Phoenix are they allowed to provide the information (name, mailing address, etc.) of the person who last paid utilities on that house?

@Frank Chin

That might be the case with this property. Like I said the owners had passed a few years ago, so I figured a letter wouldn't be too aggressive towards the new home owners. But, now that you mention, I am almost positive that what you stated is the case with this property. My guess is that the probate is almost finished though, because a neighbor had told me that there was some people moving a sofa in not to long ago. I will look more into it but not get too attached to the property since like you stated could take years. Thanks a lot!

I had asked previously in another discussion about a property and how I could find out if it was inherited or not. After digging deep I found out that the owners had passed away. However, the house is still listed under them in my local tax assessor's website, and also on other sites like white pages. This would make sense to me if they recently passed, but both husband and wife passed years ago. The house is vacant, has boarded windows, and a nailed mailbox. Also, a neighbor around that area told me that they had seen some people moving an old sofa in there a few weeks ago.

In my previous post I wanted to know how I could find out if someone had inherited the property. What I really need to know is who the real owner is currently. It is a property with great potential, but only if I can find what I need. Does anybody have any recommendations on how to find the new owner of this type of property?

I've tried letters on the door, and searched for other properties that they could have owned to send letters.

Thank you!

@Bob Okenwa

I will try the probate search. I'm also going to send a yellow letter to the PO Box that was provided. But I definitely understand, I will be as non-aggressive as possible with the family. Thanks a lot Bob!

@Bob Okenwa

Thanks Bob. So, I just went more in depth with this property. The owners do have a PO Box that was also listed on White Pages, next to the address for it says "March 1988-May 2017". For both the listed owners of the property it also says deceased. However, both on the assessor's website and on white pages it still says that they are still the owners. There are other people that appear that says "ALSO LINKED TO". Neither of the listed people share last names with either of the owners also. Any recommendations?

Hi everyone! I was driving around a neighborhood in Phoenix, AZ. I found a decent amount of properties that could be potential leads. However, there is one that stands out a lot to me. It has boarded windows, the mailbox has been nailed, has normal wear, but nothing to big and looks like it could be a great deal. I looked into the home and found the owner using my local tax assessor's website. I proceeded and looked up the owner on white pages, and figured out that he was really old mid 90's. So, I took a yellow letter to the home and put it on their door since the mailbox was nailed. Got no response, did it again two weeks later and again no response. I asked a neighbor if there was anyone living in that property or what was the deal with it. They let me know that they have not seen the original owner in a while, but other people had moved a sofa in a few days before.

How would I know if this property has been inherited? There is also no other mailing address for the homeowner when I look on my tax assessor's website. Is there any tips or tricks that have worked in the past for you guys?

- Thank You!

Hi so I've been working on finding potential leads. I have developed a decent list and created an excel sheet for them. I also sent out direct mails to those properties after researching and finding the owners and mailing addresses for them.

I need help knowing what exactly the next steps are if I get a call. I know I'm supposed to make an offer and sign contracts. However, all of the research I've done is very basic. What would be my next step if I received a call? Would I ask to see the inside of the house before making an offer?

Also, as far as the contracts with the seller, what needs to be included? Is there a specific already written contract that I am able to use? Same for the buyer. I will continue to do research to find the answers since I am new to wholesaling still and I am really trying to make this work! Thank you guy a lot!