Distressed Property For Purchase

[penasco1996]

I've got a couple properties in Penasco I need to unload. I have had no luck asking money for them so I'm reversing course and offering to pay folks to take them off my hands. Please reply in confidence with your best acceptance of an offer.

 

[Roberto]

Yeah, great marketing tool. We've recently raised the payout on a couple of beachfront homes that have been for sale for over a million. Owner is now offering up to $50K for someone to take one off their hands. $70 if you agree to take the atv and kayaks. Of course they also agree to pay for the new owner's bank trust if required and we will throw in two free dog adoptions for qualified takers.

Not to scoop Jim, but I heard they will be offering up to $30K for someone to take a few of their 2 and 3 bedroom condos.

The Brooklyn Bridge is still for sale and so is the George Washington Bridge last I heard.

 

[playaperro]

you talking about a deed in lieu walkaway?

 

[playaperro]

So what you are saying is true! You will have to file chapter 7 to bring this to an end...

 

[jerry]

What Condo project needs new elevators?

... although I doubt that Penasco is selling a condo... I degress.

 

[moore_rb]

So, there are people now offering to pay cash to anyone willing to assume the carry-costs on their RP property, just to get their names off the title/deed?

Am I reading that correctly?

 

[Kenny]

So, there are people now offering to pay cash to anyone willing to assume the carry-costs on their RP property, just to get their names off the title/deed?

Am I reading that correctly?

After I sifted through all the jargon, that's what I got out of it too.

 

[jerry]

At Santo Tomas they raise our monthy fees to 120 dollars per house 60 dollars per vacant lot.This covers road grading, 24 hour security,checking up on things for you when you need them (did I lock the door),water,bill paying and garbage service. That seems pretty steep to me but I have heard some of the Condos are up to 800 per month,,,yikes

 

[Roberto]

So, there are people now offering to pay cash to anyone willing to assume the carry-costs on their RP property, just to get their names off the title/deed?

Am I reading that correctly?

In realilty I have not heard that and I personally don't believe it to be true in Penasco. Maybe elsewhere but even then I think I would have read something about it and I have not.

The first post was a joke made in frustration over a very poor market and I just tagged along for the funny ride. It appears that maybe some took it seriously. Seems obvious to me that if someone has land they need to dispose of, getting a few dollars or simply giving it away would come first before paying someone to take it.

 

[moore_rb]

yup I know a condo owner who is paying $800 per month mortgage, and $800 per month HOA...

yikes is right.

 

[marybna]

As of today there are over 1000 properties listed for sale in Penasco, almost 400 on Sandy Beach. I can't sell, the bank doesn't want to work with you and if you don't pay your hoa, they turn off your water so you can't rent it. Before the mega project LP, everything was smaller and less grand and got finished. But even the ones that are finished are having trouble. There are place at Sonoran selling for less than I paid before construction begin. I see more and more owner bailing out because they do not see anyway for it to be fixed.

 

[Jim]

We have 33 sales at the Sonorans this year. That is more sales than 2010, 2009, 2008 or 2007. Prices are way down but we are still selling. We also have 4 pending sales that will close early next year.