1st Short Sale Attempt
I hv a meeting tomorrow morning with a person in default. I hv pulled up his county records and see that Chase has filed a lis pendens naming him, hi s previous wife, the homewoners assoc, the insur co, his employer (I think) and maybe his mother in law. Anything I need to be aware of here when I'm trying to make a deal with him.
OK as for the paper work I want to go over his docs and then hv him sign a "Buy Offer & Acceptance and Deposit Receipt" and a "Grant, Basrgain & Sale Deed".
Without verification at this point here is what I believe the numbers to be:
1st w/ Chase 130 K
2nd w/ HHold 35 K
Arrears w/Chase 12K
Arrears w/HH 4K
Chase has also put a claim onto all personal belongings.
Probably also arrears w/Homeowners Assoc & Insur co??
FMV 210k and house looks in good shape fm outside.
What I want to accomplish tomorrow:
Hv him sign "Buy Offer..." with a deposit of $10.00 (Is this realistic??)
Hv him sign over the "Grant,Bargain & Sale Deed" at my bank being notarized.
Hv him sign an "Authorization to Release Information" for for me to use w/banks.
Anything i should keep an eye out for??
Appreciate your comments/suggestions
PS I also hv an afternoon appt with a buyer's who's nearly upside down from what I can tell. Just trying to see if I can get an "Auth to Release" form signed to see what I can do here. Busy day!
Thanks kindly
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