Often times the properties with the biggest problems tend to scare off most buyers.
And I would say rightfully so. If a property is too complicated for you and you don’t have the experience or support to take it on, then you should not deal with it.
However, your real focus should be on how you navigate through problem properties such as this one that I acquired with multiple code violations, judgments, liens, delinquent taxes and many other problems to the seller.
Now here’s the code word…”problems” to the seller.
The more problems a seller has the less likely he or she will know how to resolve them.
This is where you come in. It is important that you learn how to provide solutions to these poor people who not only inherit the house but also inherit all the problems that are attached to that house.
In reality code violations, liens, delinquent taxes, and judgments are not necessarily the biggest problem because through the sale of the subject property all of these things can go away.
However, like in my case all of these items in delinquency will be paid off at the close of escrow, BUT the signing off of the violations can only be done once the work has been corrected.
For most people that can be scary but if all work is being done up to code and you take it one step at a time and one signature of approval at a time then it can be done.
It’s an exciting time to be in this business only if…you have the skills and knowledge to help people who have inherited problem properties.
Unfortunately, most folks never take the time to go deep in the development of their problem-solving knowledge in their real estate business and therefore only have one or two tools in their real estate rescue toolbox.
I encourage you to take it one step further from where everybody else leaves off and seek wisdom so that you may serve your inherited property community of sellers to the best of your ability.
To your success,
Ernie “ Victoriously Conquering Inherited Sellers Problems“ Vargas