San Diego Housing Market News and Analysis
Short sale actually pre-foreclosure
User Forum Topic
Submitted by no_such_reality on December 11, 2012 - 2:54pm
I was looking at a short sale today as a potential rental property. The house has been abandoned. Previous deal on it apparently fell apart. Can't tell it from the MLS which has the old lived in photos up, but it's empty.
The debtowner didn't trash place but didn't show much care in moving out. They've also been gone long enough for the toilet traps to dry out. Not sure how long that is in our inland areas.
All the utilities and water are off. Lawn and landscaping, dead.
That said, what would you look to for purchasing from a discount standpoint. Banks on short sales are horribly sticky at the moment. Rental comps are bid up stupidly. Should you treat it like a foreclosure? Treat it like a flip?
Just run like h*ll cause dry toilet traps have always been your nightmare?
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