The seller of this Puyallup, WA beauty was in preforeclosure, and the house was on the market for 150+ days with no buyers or offers coming in.
The seller was stuck.
He didn’t have enough equity in the home to be able to sell it without paying out of his own pocket at the close of escrow AND pay for the arrears, which he didn’t have the money for. We negotiated a contract, and brought in a buyer who took over the loan “subject to or subto” the mortgage, paid the $24K in arrears, the closing costs, agents commissions and even put a little bit of money in the sellers pocket.
The seller was THRILLED! Not only did we stop the foreclosure process, but the sellers credit will not be ruined by having a foreclosure on his record AND his credit will be rebuilt by the buyer who will be making monthly payments on the loan, thus improving the sellers credit.
The buyers gained an AMAZING cash flowing investment property at a 2.5% interest rate, low monthly payment, instant equity, and all without paying any money out of their own pocket!
- Are you a buyer and want to learn more about buying using this method? Send us what you’re looking for and we can find you your next investment property!
- Are you interested in selling your home and don’t want to go the traditional route. Or it needs repairs and you don’t want to do the repairs?
- Do you feel stuck, and don’t have enough equity in your home to sell it the traditional route?
- Are you in the preforeclosure process and need help?
Send us a message or give us a call at 253-372-2377. We can help!
