When One (ex)spouse Doesn't Want To Sell
I have a situation where a very nice lady wants to sell a house she owns with her ex-husband. She doesn't know where this guy lives, but sees him when they do the kid-swap thing on the weekends. He knows she wants to sell because she needs the cash out of that home, but he is refusing just to irritate her. The home has been vacant since they split two years ago. The weeds are taller than I am and it is all boarded up. It is in a very nice neighborhood. I checked the courthouse records and this guy has a judgement against him for $25k that apparently he owes the family trust and the city has a lien on the home for a little over $600 for unpaid garbage collection (what a loser!)
I have tracked this guy down. He is renting across town. I have sent him letters, cards, FedEx letters, phone calls...you name it. He won't talk to me. My partner has tried as well. Any ideas how to buy this house?
I had a thought but don't know if it will work. I can have the ex-wife sign an authorization to release information and talk to the mortgage company. I can ask that if I bought out her 50% if they would enact the due-on-sale clause and tell the mortgage company about the liens and judgement and inform them that the house is getting steadily more trashed. Obviously the guy doesn't have the cash to pay the balance and he probably doesn't have the credit to refinance. Any thoughts or other ideas??? :-?
[addsig]
I believe that you are going to have a difficult time getting the property without the cooperation of the ex-hubby. About the only way I see this going down is if you become the leinholder, and foreclose. But then that's not really doing the ex-wife any good. Thiswould require you to buy the paper on the property.
Than God you are in the great state of California.
Very simple, you buy the interest of the ex wife. Probably title is held as Husband and Wife as Joint Tenants. You then own a half interest. I would then proceed forward and clean up the leaves and stuff and make the house a little presentable. With your deed you just take possession.
Then, here comes the good part. You contact the nice ex husband and tell him you want to sell and pay off as much as possible. Blaw Blau. If he refuses cause he is that kind of guy, you then file a simple action in Superior Court asking for a court ordered sale. In the mean time if you are a real naughty, you go around and see if you can buy by assignment his judgement. You may be able to buy it on the installment plan, or you may just get a simple assignment as a collector. In any case work out your best deal. Cause remember on sale of the property as lien holder you are entitled to grab. Lots of other little tiny steps but this is the essence. Can it be done? Yes I have done. It. My was the man upset. Offered to kill me on site. So I went over to his house, rang the door and said, "Here I am but before you Kill Me I should endorse this check I have for you." check was only $500, but the act of going there and tendering changed his attitude. He took me to dinner. Denny's the cheap vvvlvkgf ! Don't try the Pot Roast.
Cheers Lucius
ooohhh, Lucius, I love the way your mind works! I never considered that if I was on the deed that I could just take possession. Just change the locks (actually I would have to remove the plywood and install an actual door!) but this is definitely outside my comfort zone, but I am willing to give it a try. In a court-ordered sale, can the court stipulate the price we would have to sell the property for? What if I change the locks and he breaks in and further trashes the place? In your best estimate, what kind of time frame do you think it would be from the time the 1/2 interest was deeded to me to the point that the court ordered the sale? Does the court stipulate you have to use a real estate agent? Would my being a licensed agent be a problem?
Thanks for your help!
[addsig]
As for the ex breaking in; you need to verify his address - only to proove that he has an 'official address' other than the home. If he breaks-in; then it is trespassing - just because he owns 1/2 of the place doesn't give him the right to walk in. That would require police intervention and you'd easily win.
Don't worry about this guy. In the end you will be doing him a favor. when he knows that his ex doesn;t stand to gain anythign from the sale and now he is YOUR partner in ownership, his tune will dramatically change and he'll be glad to take your money.
pick up a can of pepper spray just in case (jk)