Help Me With This NY Short!

Hi,

When how do you approach or ask the seller for the deed? I have been working with the seller for at least a month now, and am talking to the bank and setting up a BPO. Have pictures taken, working on getting hardship letter with seller in foreclosure, but haven't go the deed yet.

I am going to offer the seller 2-3K for the deed and credit repair program after the closing of the property.

This is a difficult situation to find a buyer, but also for the bank, because the property is a 3-family in Brooklyn, with Section 8 tenants in the 2nd and 3rd floor. 1st floor is vacant, so I'd love to find a owner-occupant for this property, or at least a landlord.

:-o

Comments(4)

  • learntherules21st June, 2004

    What are the #'s - RR, FMV, repair costs, etc.?

  • ddhamilt21st June, 2004

    FMV 420-450K
    Repairs 30-50K
    Owed by Seller 407K total incl. attys fees etc

  • nyreinvestor21st June, 2004

    glad i saw your post
    what part of brooklyn is the building in please email me more info and a number to reach you at im intrested in the building but i need more info thanks ANTHONY

  • ddhamilt21st June, 2004

    Anthony,

    You can reach me at redstonebuys @ msn (dot) com[ Edited by ddhamilt on Date 06/21/2004 ]

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