Frank had a home in the Lake Ridge neighborhood of Virginia that he wanted to sell. The property needed a few repairs, but that wasn’t the worst of it. He had purchased the home to rent out to a family member, which went fine at first. They recently stopped paying rent, though, which was the final straw for Frank.
He contacted us and explained the situation.
After letting us know about the repairs he thought needed to be made, Frank told us his baseline price. We informed him that it was probably a little too high, and gave him our ballpark offer. He asked that we meet in the middle. We told him that we could probably do that, but would need to perform our inspection before finalizing anything.
A few days later he met with us so we could conduct the inspection. That’s when we learned the full extent of his story.
Frank had initially purchased the property as a rental for his daughter.
He made the purchase over ten years ago to allow his daughter and her friends to rent. They had always made their payments on time and the situation had proved beneficial to both parties for a long time. Eventually, though, they had stopped paying, forcing Frank to take the funds out of his 401k. Furthermore, they hadn’t performed any repairs on the property, allowing the home to fall into decay. He finally decided that he couldn’t allow his daughter to freeload anymore.
After confirming what repairs would need to be conducted to make the property livable again, we agreed to meet him in the middle. He wanted to move forward immediately, and signed the contract the day after receiving it. We ended up purchasing the property about a week later, freeing him from his freeloading burden.
Do you have tenants that you just can’t deal with anymore?
We understand the woes of a rental property owner, and have been purchasing their homes for over 10 years! And we can buy your house fast – in as little as 7 days! No matter why you want to sell, from bad tenants to foreclosure, we’ve dealt with it all, and have the financial and legal capacity to make the purchase. Don’t delay, if you have a home in DC, MD, or VA that you want to sell fast, then contact Express Homebuyers today!