Lost One I Was So Close On! Ohhhhhhhh!
Ok.
SF on the lake. 60' of frontage. They couldn't come up with the past due monies.
I do all the due dilligence. Set up the $, call the bank, call the lawyer, speak to the lawyer's assistant, and bam! They got money Monday to take it out of foreclosure!
FMV? 150k. I would have got'er for 35K! Ahhhhhhhhhhhhh.
Ok, I feel better.
Can anyone relate?
Good investing,
OnTheWater 
Thats too bad, but atleast you've got a few deals under your belt. I'm still too scared and unsure to make my first move!
Good luck!
Abhishek
Did you get it under contract? That would really be bad if you had a contract on it and they knew about it and they did this to you. OUCH!! I feel your pain...NEXT!!!
I think we need to hear how to structure deals that are good deals from the onset so that these types of situations dont happen.
Dont get me wrong I am sure they are happy they didnt loose thier home. But, at some point a deal is a deal right?
Any input out there?[ Edited by WheelerDealer on Date 02/04/2004 ]
pejames....funny
Quote:
On 2004-02-04 16:16, OnTheWater wrote:
Ok.
SF on the lake. 60' of frontage. They couldn't come up with the past due monies.
I do all the due dilligence. Set up the $, call the bank, call the lawyer, speak to the lawyer's assistant, and bam! They got money Monday to take it out of foreclosure!
FMV? 150k. I would have got'er for 35K! Ahhhhhhhhhhhhh.
I can definately relate!!!
A few years back I went down to the auction, bid on the house, won, paid the money the same day. Ordered an appraisal, met the appraiser at the house the people were still in it. I called the police, the police came, I showed them my receipt that I owned the house. The people in the house said their Aunt bought the house. We are all in the front yard with receipts for the house. The police made everyone leave and bolted up the house. It was after 5:00 pm so I couldn't find anything out untilthe next day. I go down to the Sherrif's Dept. this is what I was told " A relative of the current owner paid off the mortgage company by wiring money to them. " Now I couldn't get my $43,000.00 back from the clerk of courts for two weeks. So I can definately relate to losing a good deal
Lori
Ok, I feel better.
Can anyone relate?
Good investing,
OnTheWater <IMG SRC="images/forum/smilies/icon_biggrin.gif">
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