Posted by pboone on July 28, 2004 at 19:28:18:
What are you paying for the house and what is the FMV?
Patrick
Need help with this… - Posted by Debra
Posted by Debra on July 28, 2004 at 16:07:30:
I know I can do this creatively. I just don’t know what all my options are. This is a 1200 sq foot brick home built in 1960’s on about 3/4 acres of land - Nice. It did not have a For Sale sign up - just sitting for four months with some weed growth. it still looks good. The owners bought it 9 years ago for $42K. No a/c and the septic drain line needs to be replaced. The owners filed for bankruptcy and are waiting for the bankruptcy to be discharged. the house was part of the bankruptcy. I called the the courthouse, got the owners name, found their phone number in the phone book. Very pleasant woman. I have not talked to her husband yet, just to her. she is anxious to get rid of the home because she does not want it in her bankruptcy discharge. She gave me the lender’s name and number. I called and they told me the owner’s had to sell the house, not them (yay!) This nice lady tells me I could get this house cheap because of the a/c and septic problem.
Question - I HAVE NO CASH! I am going through a divorce and will HAVE to move out of my home by Sept 6. What is the best way to get possession of this house? I thought of doing a lease/option until my funding comes through with part of my payments going to the down payment. Help, please!