No motivation - buy the note? - Posted by Augie (So. CA)
Posted by Augie (So. CA) on October 26, 2000 at 21:05:15:
I’m a newbie. I’m trying to learn from you guys.
Previously, I posted regarding a seller with a 3BR condo with a lot of equity. The comps are $200k and she owes $75k. I called (third time) her again today and spoke to her adult daughter. She was kinda ticked and told me, “As I’ve told you before, we are not selling the place”.
The NOD has been filed on this property about 1 month ago. I obviously am not “getting on the same page” with the seller. Now, from what I’ve been reading from this newsgroup, the next logical step is to buy the note from the lienholder and foreclose myself, right? I know who the lienholder is but don’t have 75+ grand in cash to offer the lienholder.
Are there any other techniques I need to try? How can I get my hands on that note without much cash?
Thanks in advance,
Augie (So. CA)