Property Q&A in Billerica>Question Details

Chase Wilke, Home Buyer in Boston, MA

can a broker respond to me on this property? cash? available?

Asked by Chase Wilke, Boston, MA Thu Jun 13, 2013

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This question was asked from this property: http://www.trulia.com/property/3121369722-5-Whipple-Rd-Bille…

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Answers

6
Chase if you could choose me as best answer based on our conversation last night regarding Auction.com and how they work I would appreciate it.
0 votes Thank Flag Link Fri Jun 14, 2013
Make sure you read all the docs on the listing company's web site.
This property is occupied.

The docs do not indicate whether there is a leasee or a past owner in the property.
You may spend as much getting the occupant out.
You may have no docs to initiate a case for eviction except the sale docs.

I'd first hire an attorney to run the title and see what else may already encumber the property.
(You can do it yourself if you know how to: some of my other answers explain the basics of how.)

If you can get them out, they may hurt the property.
You will have no deposits and you may not be able to indicate that the damage came from them, so you may not be able to recover damages.

You may not be able to get insurance.

I'd also look and see what the other properties this company has advertised as "From $Some Price" end up actually selling for.

In the end, there is a home for sale on this street, that has an offer with a "kick out clause" in the event a better offer arrives before all the existing contingencies are met.
It is $364K, and if you use the starting $70K for the down payment, you may find that a better use of your time and money.

I would contact a local real estate professional to help with this answer and to save time and money.
(I'm on the Cape, but I can help you choose a local pro if you want help doing so.)


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
0 votes Thank Flag Link Fri Jun 14, 2013
The auction starts tomorrow with a starting bid of $70,000 - cash only.
0 votes Thank Flag Link Thu Jun 13, 2013
Bank owns it at 265000 contact me as I know how auction.com works and would be happy to explain the process.
0 votes Thank Flag Link Thu Jun 13, 2013
Looks as if it is an auction on June 18th
100,000 is opening bid..cash offers only.
0 votes Thank Flag Link Thu Jun 13, 2013
Chase,

Get in touch with me if you would like to submit an offer on the property.
0 votes Thank Flag Link Thu Jun 13, 2013
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