Join me on the next Foreclosure Fridays Live (June 29th) to discuss my trip, Foreclosure Book, etc! Start at 5PM PST (10AM Saturday in Australia).

Investor Found Buyer to Stop Foreclosure on Burdett Way House

Zack, the real estate investor from Land Mark Property Solutions of San Francisco Bay Area gave me some good news yesterday. He has been helping me stop foreclosure by getting a short sale approved on the Burdett Way Sacramento house.

Zack offered 200 but the lender would only go down to 248 on a short sale. That short sale price is not low enough for Zack to want to buy the house from me. However, instead of dropping the ball, Zack has been marketing the house to other investors and retail buyers.

There hasn’t been much activity lately so I began to be concerned. Yesterday, Zack told me they found an investor-buyer at the 248 price. The contract will be assigned to the new buyer for an assignment fee. So that’s good news, well, kind of. The buyer still needs to close. He has 2 weeks to perform.

I’m glad Zack and the Land Mark Property Solutions team is still trying to help me stop foreclosure on this house even with the bank not wanting to budge much on a short sale. They seem like a good group of investors. That’s why I am comfortable to mention them by name in case somebody else needs help to stop foreclosure via a short sale.

Hopefully the buyer is going to close… I’m not holding my breath though.

Leave a Reply

Your email address will not be published. Required fields are marked *