Cozy Modernized 3 Bed 1 1/2 Bath Bungalow,
1 Block from Max, Big Lot Minutes to Downtown
$115,000
Great Short-Sale Opportunity Want a Great DEAL? Make an Offer!
More Info at: http://tinyurl.com/northkilpatrick
3 Bedroom 1 ½ Baths 1248sf total Built 1951 Refurbished 2005-2006
Features:
- Nicely modernized in 2005 & 2006
- Designer colors
- 5000 sf lot with nice lawn and plenty of parking
- Laminate flooring first level
- Carpet flooring second level
- Newer appliances – From refurbishing date – In great shape
- Newer water tank-less heater – From refurbishing date – In great shape
- New double pane windows in most living spaces
- Newer roof - From refurbishing date – In great shape
- Friendly neighborhood
Dear Short Sale Dept. Rep,
As per your request of today Monday June 6th, 2011, I attached to this cover letter is the listing agreement for 1330 N Kilpatrick St, Portland, OR 97217. I am the Realtor representing the above mentioned seller. Please start the short sale as soon as possible. I look forward to closing this deal ASAP. Please let me know if you need anything else.
Sincerely,
Oscar Morante
Rental Explanation
I purchased the house on April 26th, 2006. It was my home for more than two years and I had to leave in June 2008 only because I was relocating to San Diego for a better job. And even though I was in San Diego I hired contractors to do multiple repairs in the house and around the property.
Repair expenses totaled $20,000 and mortgage was $1,793/month so by end of August 2008 I decided to rent it to be able to keep the house payments current and to cover for seasonal repairs. I wanted to save the house so I never missed a payment even though renting was a total loss.
Rent breakdown is explained in detail on the next page.
In total, from August 2008 to July 2010, I paid $44,344.56 in mortgage pmts offset by $7,776.67 in total rent. Thus my resulting loss was ($36,567.89).
Upon letting the renters go I found out that there were more repairs to be done (flooring, cabinetry, etc.) that totaled additional $10,000. I did try my best but after the repairs were done I came to the point where my finances were completely drained and trying to keep the house was not an option any longer.
Sincerely,
Statement of Maintenance
Right now the property is vacant, on the market and maintained at my expense. I am paying for utilities and landscaping. The interior is clean and ready to move in.
The property has been vacant since June 2nd, 2010 and has not been rented to anyone since then.
Sincerely,
Dear Boyd,
Thanks for attending the short sale of this property. As per your request, attached to this letter are the following documents.
- Copy of your email used as check list
- Listing history showing serious attempt to get best possible offer
- Arm’s Length Affidavit – Signed
- Approval to Participate – Signed
- Purchase Agreement – Revised per your request
- Closing Extension – As per your instructions
- Listing Agreement – Revised as per your request
- HUD-1 based on the offer
Sincerely,
Dear Boyd,
As per your instructions, attached is the lien release for 1330 N KILPATRICK STREET PORTLAND OR 97217-6639.
I checked with the title company. In reality there was never a true lien recorded on the property, it was only a claim of lien, and it expired because it was paid off and never litigated. Mrs. x, because of her financial problems, took a little too long to pay for work done at the property. Because of this the contractor filed a "Claim of Lien". As mentioned above, this never became a lien. Soon after that Mrs. x paid the debt in full. That is why the claim of lien is not showing in title. See attached recent title report.
In any case, since there is release of lien, and the lien was never in title, I think all the title issues on the property must now be resolved. Please go ahead and approve the short sale. That way we can close this transaction ASAP. Thanks.
Let me know if you need anything else.
Sincerely,
Boyd and London,
We are moving quickly towards the closing of 330 N KILPATRICK STREET PORTLAND OR 97217-6639. Today we hit a snag.
The crawl space under the house is substandard. A loan will not be approved for the property because it most of the crawl space is less than 5" deep when it should be 18" deep. Please let me know if you can provide an allowance for solving this issue. I am very surprised about this issue. The property is presently FHA financed. Because of this, I was assuming there would not be any construction issues to affect the sale. Can you do something about this?
There are two solutions. One is to get a cash buyer. For this the property will have to be further discounted. Another is for Wells Fargo to allow in the closing for that work to be done. For this we will need an estimate. I look forward to your quick reply.
I look forward to hearing from you soon.
Sincerely,
