Speaker 1: Hey, guys, I’m over here in Libertytown, Maryland. If you’re not sure where Libertytown is, it is on Route 26 which runs from Baltimore to Frederick, and we are about five miles west of Mount Airy and three to five miles east of Frederick, Maryland.
We are at this condominium complex. Many folks don’t know that this condo is even here. It’s pretty amazing, pretty awesome. Great starter neighborhood, but I wanted to tell you the story behind how we acquired this particular condominium. As you know, we have a webpage, marylandcashhousebuyers.com, and we were contacted by a seller of this particular condominium who had inherited the property from his sister who unfortunately passed away a few years back. This particular seller went onto our website, he probably typed a Google search in that said something like ‘sell my house fast for cash’ or ‘sell my house in Maryland or ‘sell my house in Frederick’ or something of that nature.
He landed on our webpage and he filled out a quick response form. What happened was, Michael came out and met with this gentleman and walked through the condominium with him. The property actually was probably built in the 1970s, and, while it wasn’t in total disrepair, I mean, the condominium association takes care of things like the roof and the windows, but interior-wise, the condominium needed some serious updating. The original kitchen was there from the 1970s, as was the original paint colors, original bathroom fixtures. What we did was we met with this gentleman and we walked through the property, and we did an estimate form to figure out what we could pay cash for the property. We made him an offer and he liked the offer.Probably the reason that he liked the offer was because we were able to close the property relatively quickly. Within a couple of weeks, I think it was probably 13 days from the time that we first met with him and signed the contract to the time we actually went to settlement, he received his payoff.
This particular gentleman, the reason that he also wanted to sell to us is because he had a couple of issues going on here. While the condominium was not in total disrepair, it needed to be updated in order to be able to be sold for market value. In this particular case, he probably didn’t have a lot of money to invest into the property to update it, as well as he was a little bit behind on the mortgage payment, his sister had had a mortgage payment and was slightly behind on that payment. He also had some past HOA dues. The associations obviously charge a fee every month to partake in the amenities of the association. This property was behind on the payments to the condominium association.
We were able to buy the property, pay off his late fees on his condominium, pay off his late fees on his mortgage payment, and also pay off the taxes that he was behind on. In many cases, these properties can be behind on their tax payments to the county or to, well, actually to the county. In this case, we were able to help this gentleman out and pay off his back taxes, pay off his past mortgage, and pay off the condominium association fees. It’s a win-win for everybody. We bought the property, we’re able to renovate the property, and we will list it back on the market and sell it to a new first time home buyer. All’s well that ends well.
Thank you so much for listening today. If you have any questions, you can reach out to us on our webpage, www.mdcashhousebuyers.com. All right, have a great day, everybody.