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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Wisdom spoken by a truly experienced investor! (NT) Posted by Rick, the Probate Guy on June 15, 2009 at 9:13 PM In Reply to: Re: should I give him a chance? posted by Lughead on June 15, 2009 at 9:06 PM : back when they were giving money away we did sell a house to the former owner that we acquired at a trustee sale : he used the overbid as a down : his story was that his wife died and he checked out of life and now was ready to come back ... : sale went through ... 2 years later he lost it again : today ... i like the fellows idea of a large non refundabe deposit : i would tell the attorney that the guy needs to move out and that is the only way you would consider it ... if it fails its best to have him out and reduces the chances that he will sue to overturn the sale later ... get him out is my vote : good luck : Lughead : : Hi Ward, : : I purchased a house at trustee sale this month, and had a chance to talk to previous owner's attorney on phone. He said they are in the process in doing loan modification, and the bank verbally agreed to postpone the sale, but the trustee just went ahead and sold the house. He wanted me to give his client, the previous owner a chance to buy it back, since he just got a new job, he really wants to stay. : : I am ok with the plan to sell it back to him if he can buy it back at the current, or at least close to current market price. : : But I think I am just wasting my time, since he just got his house foreclosed upon, had a bad credit, of course no savings. How can he afford to get a loan to buy? I also think giving him a chance first may later involve legal issue if he can't get the loan, and he doesn't want to move. His attorney may use this as a reason to fight back for him. : : Am I correct? Or what do you suggest? Should I go ahead ask him to move out, if not eviction follows? or should I give him a chance? : : Thanks, : : Skimmer Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : back when they were giving money away we did sell a house to the former owner that we acquired at a trustee sale : : he used the overbid as a down : : his story was that his wife died and he checked out of life and now was ready to come back ... : : sale went through ... 2 years later he lost it again : : today ... i like the fellows idea of a large non refundabe deposit : : i would tell the attorney that the guy needs to move out and that is the only way you would consider it ... if it fails its best to have him out and reduces the chances that he will sue to overturn the sale later ... get him out is my vote : : good luck : : Lughead : : : Hi Ward, : : : I purchased a house at trustee sale this month, and had a chance to talk to previous owner's attorney on phone. He said they are in the process in doing loan modification, and the bank verbally agreed to postpone the sale, but the trustee just went ahead and sold the house. He wanted me to give his client, the previous owner a chance to buy it back, since he just got a new job, he really wants to stay. : : : I am ok with the plan to sell it back to him if he can buy it back at the current, or at least close to current market price. : : : But I think I am just wasting my time, since he just got his house foreclosed upon, had a bad credit, of course no savings. How can he afford to get a loan to buy? I also think giving him a chance first may later involve legal issue if he can't get the loan, and he doesn't want to move. His attorney may use this as a reason to fight back for him. : : : Am I correct? Or what do you suggest? Should I go ahead ask him to move out, if not eviction follows? or should I give him a chance? : : : Thanks, : : : Skimmer [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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