When you choose a real estate investor to help you with your distressed property, you want to work with someone who has real life experience with real people, and even more relevant, someone who has dealt with people facing a situation like the one you are in.
What kind of distress are you struggling with? Visit our Distressed Property page for details on both property distress and situational distress. Perhaps you have a property that needs overwhelming repairs, or your property has been vacant or abandoned. Maybe you’re having issues with getting a clear title. Perhaps you need a fast no-hassle sale to stop foreclosure or settle a divorce or probate. You do not want to manage these situations by yourself.
Reddtrow Helps a Homeowner in Property DistressLast year, we bought a house that needed massive repairs and the homeowner was having issues with the title. This was a double whammy! The house needed expensive plumbing and foundation repairs, cosmetic fix-ups, a new roof and much more. Those repairs alone would cost tens of thousands. The owner could not afford to maintain the house and she was ready to sell the house after her husband passed away a few years earlier. There was no Will so we had to file several heirship affidavits. It took us almost a year to find heirs to the property. We tried skip trace services, Facebook… you name it, we tried everything. Finally, we found the last heir but needed an attorney to represent a minor child who was an heir to the house. We finally found a reputable and reasonable title company with a staff attorney who was able to help us. We closed almost exactly one year from the day we first met the seller. Although it took time, we were able to work through all of the difficult situations the homeowner would have never been able to navigate on her own.
Situational distress is entirely different from a distressed property. Situational distress affects people emotionally and physically when there are life circumstances involving a house or where the house is contributing to the stress of an already-difficult situation. Things like divorce, a death in the family, or falling behind on payments are considered situational distress.
Reddtrow Helps a Homeowner in Situational Distress
In 2008, we met a lady who was behind on her mortgage payments. She desperately wanted to save her house but she could not afford to maintain the house or make the required monthly payments. In fact, when we met her at the house, we sat in the dark because the electricity was out. She couldn’t afford to pay the electricity bills. After talking for a while and listening to her story, we decided that a fresh start would give her peace of mind and selling the house would release a huge financial burden. We made a short sale offer to the bank and paid the seller (through a Bill of Sale) for personal belongings since it is illegal for a homeowner to get paid for the sale of their house if it is sold through a short sale.
We even found the lady a new place to live at a comfortable apartment complex. In addition, we were able to get a local moving company to help her move out of the house free of charge!
The purpose of these stories isn’t to tell you how great our real estate investment company is. We want to convey to you, the homeowner, that we will go above and beyond to help you, even if that means finding you a new place to live, getting an attorney to help with a difficult situation, or sticking by your side for however long it takes to reach a solution. We buy houses in any condition, including distressed properties, because we care about helping people.
Are you interested in telling us your story? Call or fill out our quick start form today.