How FAST???? Please Help!!

Aparicion profile photo

Hello everyone, I think I may have found my first deal. I went knocking to a house that has a pending sale on Dec 10. He has not made a payment on his house in 2 years! There is about a $50-$70 thousand margin between his judgement amount and comps in the area. My question is do I still have enough time to get into this deal? The sale is 5 days away. I am meeting with him again tonight. He is really really, motivated. Any info would help. Thanks confused confused

Comments(2)

  • Birddog14th December, 2003

    Well, since the sale is five days away, time is definalty of the essance. You may want to contact a investor with cash unless you have the money yourself, because you will need to slow the sale approaching. Good Luck!!

    Eric
    [addsig]

  • BAMZ4th December, 2003

    Hi Aparicion,

    You will still want to pull title on this right away. If you are using a title company, tehy can sometimes take 5-10 business days to complete this depending on how busy they are.

    Therefore, it is essential that you call the lender and or the foreclosing attorney and request that they delay the sale for a short time (1-2 weeks). Let them know that you are a cash buyer and the only thing that you are waiting on is the title report!

    Delay the sale, check the title, bring in private money..............and PROFIT!

    Best of Success!

    BAMZ

    [addsig]

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