OfflineI ran across a possible deal today and wanted to vet it here to get some responses. We found a 2 bedroom 1000 sq ft home sitting on 38 acres of woodland with a private pond 30 miles south of Indianapolis, Indiana that is in probate court. The current owner through pretty much laziness is about to lose it. Here are the stats
Current mortgage balance $87,000 approx.
Fair Market Value $185,000.00 per current owner.
The judge has ordered the current owner to get the financing under foot and the resident has failed to initiate anything. He has bad credit and is hoping someone will magically fix things for him.
I am thinking about securing a Hard money loan and sending a un-solicited offer to the Court with a Certified Check to make the deal.
Is this an appropriate manner to handle this?
Looking for advice.
Wishing you Happiness and Prosperity,
Rick & Peggy
Eagles Crest Properties
I see you are in Castaic, do you have anything in So Cal?
P.S. - Everything else is immaterial, irrelevant, and unnecessary.
Dear CaRei; per some property in Castaic: There is a Castaic Lake located right nest to Valencia, vicinity Santa Clarita, Newhall, Canyon Country. This is part of Southern California.
anita Page