Any feedback on this board is appreciated. I may just be spinning my wheels anyway, b/c it looks like the second on the place doesn’t want to play ball. Yeah. It’s a short sale. The first reduced drastically. Second is uncooperative. Makes no sense to me b/c certainly if it goes to foreclosure, it will probably sell well below what is owed on first in the condition of the place, so the second will be wiped out, no? Isn’t that the way it works? Seems like they’d be willing to take something less, rather than nothing at all.
I was hoping to make it happen before it went to foreclosure. Who knows what will happen then. Will the bank fix it and sell for way more $$$$? Will it price it low and get a bidding war and some developer scoop it up?
That’s why I was scrambling to figure out how I could get it now. The raw commercial land sitting on the freeway is worth 3xs the amount I’m looking to get. That’s why I thought it might be doable.
