
I received a call from a gentleman in North Jersey. I seem to be doing a lot of business with North Jersey folks lately. Anyway, he was in the process of foreclosing on a small house in Salem City. He reported that he didn't have the papers back from the court just yet but should have them any day.
He asked me to head on over to the property and let him know what it is worth. That's a tricky question now-a-days. It's harder now than ever to estimate the value of properties. I mean, who REALLY knows what is happening in this Real Estate market?
Let me just say, "The house is a MESS!" Stuff all over.....all kinds of stuff. I dragged a dear friend with me that day and to tell you the truth I was a little bit embarrassed about 'my new listing'. Oh well, as one of my investors used to say, "There's a house for every butt and a butt for every house." (OK, he didn't quite say it like that. That is the 'G' version of his saying)
The client was extrememly anxious for me to complete my work and get the property on the active market. He was more anxious than most. By the end of the week, it was up and running.
Last week, a Realtor from Gloucestor County drove all the way down to Salem to show this poor, little house. Once he was there, he called me to obtain the lockbox combination. There's only one problem with that.....I never put a lockbox on this particular house.
Now, there's a mystery! Who is running around the city of Salem placing lockboxes on distressed houses? Not anyone that I know.
Banks will do this though. Banks actually do this quite often.
My client doesn't know who did it. His lawyer doesn't know who did it. They both want me to cut off the lock.
Me? I want to know who really owns the property. I'd like to see the papers from the court.
I'm not touching that lockbox.



