Results 1 to 3 of 3
  1. #1
    Join Date
    Sep 2015
    Location
    Maryland, USA
    Posts
    37

    Question What is the Best Way to Approach This Short Sale Property

    My question involves real estate located in the State of: Maryland

    What is the best way to approach this Short Sale property?
    ================================================== ==============

    Thanks for your replies to my threads. This property is located in Maryland. I find some interesting insights provided in this forum, so I am opening my thread.

    I Find a property built in 2000 listed as short sale. I did see the property. There was no upgrade to the property since 2000. Heater, HVAC, furnace, roof , appliances, carpet, paint are 19 years old. This house does not have any light/fan fixtures in living/bedrooms. All toilets have lights.

    It was listed originally for 225K and dropped to 210K recently.

    As I mentioned in my post, there is no upgrade has been done since initial built. We estimated that we need to spend around 35-40K to bring to market ready condition.

    I find a down trend on this short sale property listing that need work.

    Initial listing for 225000 then dropped by 7%

    I find another drop by 5% of price. I did find this property has Front Foot FEE debt 7150 (550/year, for 13 year).

    Is it a good idea to wait for this dropping trend settle to step in for offer?

    How do I protect from falling knife situation, if I make an offer?

    Thanks for sharing.

  2. #2
    Join Date
    Oct 2014
    Posts
    7,202

    Default Re: What is the Best Way to Approach This Short Sale Property

    Quote Quoting MDRI
    View Post
    Is it a good idea to wait for this dropping trend settle to step in for offer?

    How do I protect from falling knife situation, if I make an offer?

    Thanks for sharing.
    This is a forum about the law rather than a forum in how to invest in real estate. Your post raises no legal issues but rather is simply a question about timing your offer for the best deal on the place. I suggest you look for a forum that focuses on that sort of thing to help you with it.

  3. #3
    Join Date
    Mar 2013
    Posts
    16,862

    Default Re: What is the Best Way to Approach This Short Sale Property

    Quote Quoting MDRI
    View Post

    How do I protect from falling knife situation, if I make an offer?
    You either make an offer that you are comfortable with or you don't make an offer and you wait. It's that simple.

    If you are so antsy about how to buy a short sale maybe you should back away and look for something else.



    Quote Quoting Taxing Matters
    View Post

    I suggest you look for a forum that focuses on that sort of thing to help you with it.
    He already did. He's had a thread going on City Data's Real Estate forum for a couple of days now.

    http://www.city-data.com/forum/forec...rt-sale-2.html

    1. Sponsored Links
       

Similar Threads

  1. Co-Ownership: Co-Owners of an Inherited Property Won't Agree to a Short Sale
    By lawfacts in forum Real Estate Ownership and Title
    Replies: 1
    Last Post: 11-16-2016, 02:29 PM
  2. Purchase Contracts: Investor Buying Short-Sale Property
    By muh7866 in forum Buying, Selling and Conveying Real Estate
    Replies: 3
    Last Post: 02-03-2012, 08:26 PM
  3. Foreclosure: Short Sale or Foreclosure on Rental Property
    By Mhen in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 02-11-2010, 06:46 AM
  4. Change of Ownership: Renting a Property To Be Sold in a Short Sale
    By Xar77 in forum Landlord-Tenant Law
    Replies: 1
    Last Post: 12-06-2007, 07:46 AM
  5. Accused of Theft over Short Sale of Property
    By italiabound in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 03-14-2006, 05:37 AM
 
 
Sponsored Links

Legal Help, Information and Resources