Financial Question
Dear Forum,
I have a seller that has three houses. He rents one and the other two are vacant. He states that he is getting rid of them (his homes) because he wants to, no other reason. I have looked on the Appraisal Districts website to find out what they are appraised at, talked to the neighbors of the homes and performed various other tasks as part of researching the properties.
I feel that he may not want to negotiate due to other financial issues I am not aware of. I want to atleast go and look into the county clerks files to find out if he has claimed bankruptcy to get rid of the homes. That way maybe movijng up faster to close the deals.
Basically, Pre-foreclosure issues. Any help?
Thanks!
How dDo you buy properties when a seller is at this stage(living in one residence, with other investment properties in bankruptcy)
By law, the seller can exclude their own property from a bankruptcy but have to get permission to sell their own property from the courts.
The other properties are investor properties that only bring in income and are not homestead.
Make an offer on the homes.
You can all so go to one of the office supply stores and buy checks. Then when you make the offer write the check out (has no bank on it) to your title company for 5K. And see how he reacts. Sometime you can use this little trick to get folks talking about their problems.
Just my two cents.