Earlier this year I found myself in the midst of a very complex multiple property short sale transaction. To be honest, I was doubtful that the deal would get to closing and escrow. Here is a breakdown of some of the items that made this Wisconsin short sale(s) transaction so challenging.
- It involved 4 different investment multi-unit Janesville Wisconsin properties
- All four units were owned by a multi-person partnership
- Some of the rental units were vacant and some were rented out. The tenants of the rented units
were hard to reach, making showings a troublesome task
- One buyer was looking to purchase all four properties at a significant discount
As you can imagine, this was a daunting task. Luckily, the bank was local and easy to get a hold of. This, of course, didn’t make the negotiations any easier however. In the end though, every party came out ahead and I’m happy to say the four investment properties did close. The owners were able to get an accepted short sale on each of the properties. The bank did not have to take the rental units back through foreclosure, and the buyer got an exceptional value on a multiple Wisconsin investment property deal. It just goes to show you that with enough hard work and a little bank cooperation, just about any short sale transaction is possible.
If you are looking to sell or purchase investment property/rental units in Janesville or Madison Wisconsin, I would be happy to assist. I service most areas of Dane and Rock County Wisconsin.Google+