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They're Going-- And No Hassle.

Posted by SeanW on October 04, 2003 at 8:40 PM

Well, my trustee sale holdovers had a moving truck out front tonight, and were filling it up.

There was no damage to the house, nor any need to bribe them to leave. (Although I did voluntarily give them some restaurant coupons tonight, in gratitude for their timely cooperation.)

One twist to my purchase, different perhaps than usual, is that these were the children of the ex-owner. So perhaps they didn't have quite the same personal aggrieved emotions, as a homeowner that had made payments for many years.

And I suspect that it's a little easier, when the purchaser's intent is to move into the house. (People may be less cooperative, if they view you as a cold-eyed businessman taking advantage of their loss. But everyone needs to live somewhere. Even the holdovers can relate to that.)

A roof leak is ruining one bathroom ceiling, some vinyl siding is fraying, and the exterior doors are getting weathered. It'll need the usual carpet and paint, replace some bad doorknobs, a few cracked tiles, etc. But really, nothing major. I bet $8000 would easily cover it. And I'm likely going to do some of this work on my own.

Comps are around 100K, and I obtained the house for $65000. These numbers work great!! :-) As soon as I get my equity line approved, I'll be after my 2nd one...


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