Jacqueline quickly exited a problem-property, avoiding a cascade of headaches and personal liability.
Jacqueline inherited the responsibilities of owning a multi-family property upon the passing of her late-husband. To Jacqueline’s surprise, the death of her husband triggered an inspection, and half of the property’s units were designated by the city as unsafe and illegal due to foundation issues, roof damage, and unpermitted units with low ceiling heights.
Not only were her personal assets at risk in the event a tenant was injured, the city imposed a 120-day deadline to make major changes to the property or face monetary penalties.
She considered hiring an agent to list the property on the market. The problem was, she didn’t have the time or desire to go through the multi-month long process to hire an agent and wait to see if a buyer would perform. She knew that the property wouldn’t show well, and prospective investors interested in purchasing the property would likely make punitively low offers or would have trouble obtaining financing which would prevent them from completing the purchase.
Jacqueline needed a fast, certain sale as soon as possible.
Exit a tired property. Flexible agreed to purchase the property “as-is”, releasing Jacqueline from repair obligations or liability after closing.
Solve loan puzzles. Flexible bought the property via a loan assignment so Jacqueline could avoid paying a substantial prepayment penalty to her lender.
Fast and simple transaction. Jacqueline had Flexible’s offer one hour after her first phone call and the transaction was closed 23 days later.
The extra twist: We “released” our deposit from escrow to Jacqueline’s bank account within days of signing a contract to give her peace of mind that a successful closing was imminent.
Jacqueline was relieved of liability, monetary penalties, and no longer had to worry about the city’s deadline.
“Everything was quick and they were more than fair. I appreciated the honesty and transparency.” - Jacqueline R.
Jacqueline didn’t know it was possible to sell without an agent. She is now a believer and a fan.