There are services you can subscribe to, which will keep you up-to-date if this is something you want to continue to do. I can also put you in contact with my local attorney's office which has even quicker and more accurate access with up to date records. Pop the address over to: email@example.com and we can go from there.... more
This property is not currently on the market. It was last sold in 2006 for $118,500. It was refinanced in 2008. In 2009, the owners were issued a notice of default for the property, but the records I am looking at do not indicate that the home was ever forclosed on and the title has not been taken out of the owners name.... more
Your first step should be to make sure your business is registered and insured. Then meet with local listing agents who specialize in listing REO homes in your area. Alot of agents manage the preservation task and get estimates and hire the workers. Other banks will use national preservation cpmpanies which you can sign up for, they require more paperwork and requirements but pay less.... more
I would expect what your agent has given you for advice....by trying to make an adjustment after the fact, you are changing the rules of the game. The bank my feel they will have a better opportunity with one of the remaining two interested parties.
The reason for the asset manager referring it up the ladder is because they just don't have the authority to make an $18,000 decision after the fact. In the event the roof is leaking, you may have a chance of getting the bank to repair the leaks but to replace the entire roof...it just may be viewed as excessive.
Be prepared for something less than the $18,000 new roof you would like, with their response. For your sake I hope I'm wrong......
A short sale would be the ideal option rather than walking away and allowing a foreclosure, an interested investor may be interested in buying and holding as a rental property. Hope this helps!... more
Your best bet is to use a realtor. The seller pays them so they can get you a list of what's available and in a variety of areas. Once you find a few you like, take your contractor with you to see what the estimated cost of fix up would be. It's also important to pay attention to days on the market for recent sales to determine if the homes are selling and how quickly where the home is located.... more
Bank owned properties are sold 'as is' and 'where is'. If they are attempting to sell the property for a use that is illegal (ie if they're advertising the property as 'commercial' when the zoning is residential) then it becomes an issue because they can't guarantee a clean title on a property that doesn't meet the zoning requirements for which it was advertised.
Before buying a property that is not zoned to your needs, contact the zoning office to determine if such a zoning change is even feasible. If a buyer attempted to change a single family home to multi family on a block with no multi family homes, they would probably be out of luck. But if they were attempting to change a single family home that was already a duplex but was non conforming and the neighborhood already had multi family, the odds are much better for success.
Keep in mind there are no guarantees about getting zoning changed and the process can be time consuming.... more
Use the $15K to buy something other than real estate or put it in a savings account. That is unless you have another, let's say, $100,000 +/- $20,000 in CASH to "fixer-upper". Think more seriously about investing in something other than foreclosure properties at that level of investment - $15K. Seriously.... more
The best place to look is at homes that are distressed also referred to as (short sales). I hold a designation as a Short Sale and Foreclosure Resource. If you'd like to discuss with me what your goals are I am happy to direct you. You may visit my webpage to learn more about me at lisarozier.com
Feel free to send me an email.
That is correct Banks wont work directly with you and if it is not listed I can help you,. I am an agent in both Missouri and Illinois. May I ask if you are interested in purchasing the lot because of River City Casino? And are you considering building new construction.
Bless your heart! You need help right away and I would recommend you contact a CDPE. If you wish I have the name of an agent in St. Louis that you can contact .....just contact me by email, text or phone call.
Standing ready to be of service
Remax of kc
Kansas City Metro Real Estate