Maryland Blogger

A Challenging Transaction

A Challenging Transaction

 

The December blog challenge for members of ActiveRain was posted by Carol Williams and Anna Banana Kruchten. They asked us to write about a crazy or difficult transaction.

I have sold hundreds of HUD and VA foreclosures and many of them provided some unusual challenges. I was helping a young man searching for his first home and we found the ideal property, a HUD owned condominium on the top floor of a very nice building in Germantown, Maryland. The only work that needed to be done was to apply some fresh paint and maybe to change the wall to wall carpeting. His FHA financing was approved and settlement was scheduled. It was wintertime and the HUD contractor had winterized the property since the heat was not on in the unit.

We had some very cold weather and the sprinkler system in the unit was frozen and the pipes burst with a resulting flood of the top floor unit and the ones below. Workmen broke into almost every wall and the ceiling in their attempt to find the pipes and to stop the flooding. This ideal condominium became a disaster.

Fortunately, I had a good relationship with the HUD staff in Washington, DC and arranged to meet with a couple of the representatives at the property to view the damage. They did all of the necessary repairs including new paint and carpet and the end result was a condominium in move in condition. My buyer was delighted and went to settlement and all went well.

When dealing with foreclosures, you need to be able to cope with some difficult circumstances. This transaction took place in time when HUD sold their properties directly by weekly offerings to the highest bidders without using listing agents.

 

Image may contain: plant, flower, outdoor and nature

Dahlia, Weston Spanish Dancer, National Capital Dahlia Society Show,

Brookside Gardens, Wheaton, Maryland USA IMG 2994
Canon PowerShot G11 Camera
Photograph by Roy Kelley
Roy and Dolores Kelley Photographs 

Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

Comment balloon 17 commentsRoy Kelley • December 27 2019 07:22PM
A Challenging Transaction
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