Hi guys, I need some guidance.
there’s a house near some family members, where the owners took off and abandoned the property while leaving the state with no forwarding address info. They clearly don’t care to be found, and the bank is foreclosing [lis pendens (NOD) filed two weeks ago]. With some sleuthing, I found two potential phone numbers for the owner in a small town, and want to call him to make contact. …but WHAT do I say/do?
Here’s what it FEELS like I’ll be doing in this situation: “Hi, my family lives near your home in Florida. You’re going to be foreclosed and ruin your credit – clearly you don’t care since the home has been trashed by animals and a vagrant. However, I can help to limit the damage done to your credit, but in order to do that I’m going to fax you a form to sign a purchase agreement which would sell the house to me for a dollar, then a form to release info so I can talk to the bank. Since you left the home to rot, you don’t mind signing your house away to me, right?”
OK, so what in the world do you say/do in this situation? It’s not an expensive property (paid 89900 in 5/03, mortgage is 74k with countrywide, tax rolls say fair value is 98k and true value is probably a little more than that in good condition, but it has about 30-40k in repairs needed), but my family members have interest in purchasing it to fix up, willing to pay about 50k.
Will appreciate any advice in how to make contact with this guy and just how to approach it; I can’t find anything discussing just ‘how’ to do a situation like this.
– Dan