Stop Your Foreclosure – Capital Property Offers

Stop Your Foreclosure - Foreclosure Solutions - Capital Property Offers
Tommy:
Hey, Scott. Good to have you. I just want to introduce everyone to Scott Whitwam. He’s a broker and investor based out of Phoenix, Arizona, primarily in the Eastside. Is that correct, Scott?

Scott Whitwam:
Primarily in the East Valley, but we do cover all of Phoenix.

Tommy:
Okay, cool, Scott. So yeah, I just wanted to bring you on here so you can explain to some of our viewers about what exactly the process is about selling your property, how to stop a foreclosure, but most importantly, how we can bring value to them in assisting them with any pain that they’re going through right now with their property.

Scott Whitwam:
Yeah, it sounds good. It’s good to see you, Tommy. It’s been a little while, and good to put a face back to the voice.

Tommy:
Yeah, absolutely.

Scott Whitwam:
Well, you asked me a little bit about who I am. I’ve been in real estate since 1989, so I have a little bit of experience in the industry obviously. During the last real estate crash, I was one of the top real estate agents doing foreclosure prevention services and sales during that season, which gives me a lot of knowledge to help people who are facing those kind of situations, people who, whether they’re being [inaudible 00:01:10] by an HOA, whether they’re being foreclosed on by a mortgage or a tax lien, or all of those things, I can generally bring some assistance, some wisdom, some knowledge to help people make the best decision for them and for their future.

Tommy:
Right. Awesome. And that’s one thing, too, that we always try to tell people, is that we’re here to solve any issues that they’re coming across with their property. And many times you see a lot of people that are saying, “Oh, we buy houses fast,” and whatnot. And they only have one solution. And see, what Scott and I, we do provide multiple solutions. So do you want to talk about that, Scott, how we provide that?

Scott Whitwam:
Yeah. So because we’re a little bit different, kind of centered in the marketplace as a real estate broker, we can actually help people with a wider variety of services. So when somebody has a problem, we just don’t have one solution, one answer for that. And like you said, a lot of the people who are looking to buy homes for cash, they have one motivation, how do I get that [inaudible 00:02:15] so I can get a check?

But really, this is a life situation for people, and we should really be looking at how we can best help the person, so that it’s a win-win for everybody. And sometimes it is buying homes for cash, sometimes it’s helping them to maximize. So let’s just say, we’re talking about foreclosure, let’s talk about some of the options that are available when somebody gets that notice, or when the bank starts sending them the letter, the “Hey, we’re going to accelerate your loan. You’re behind two payments, you’re behind three payments.” And so there are some options typically facing people who are headed for foreclosure that other companies can’t walk you through because that’s not their business.

You know what? My business is helping people. And so one of the things we can do is we can see whether or not a forbearance is a better option for them. Is there a way to … Maybe their situation is temporary, it’s only going to be a three month situation or a six month situation, and there’s light way at the end of the tunnel, but it’s too far away in order to beat the foreclosure. But maybe we can help them by putting them in contact with the right people so that they can either move their balance that they owe right now to the end of their mortgage or something to stay in the home. We call them mortgage modifications, really. It’s a way of modifying the problem that you’re in.

The other way is some people, the reality is some people just need to file bankruptcy. So that is another solution. We have a network of attorneys that we work with that can provide advice with regards to bankruptcy. Sometimes bankruptcy can preserve a home and stop a short-term situation for somebody. They can reorganize and get back on top of it. But when those two don’t work, we have options with regards to how to liquidate or how to sell the house. And we look at all of the options for people. So how we can help when somebody is facing that and the house has to be sold, we can go into that house and we can see the house is better situated for [inaudible 00:04:28] and be a retail sale, to maximize their money.

Just a short story. I had a client out in Surprise, and that’s the West Valley of Arizona. And they had called me and said, “Hey, we just want to sell this house. We want to sell it fast. Our attorney referred us to you. He says you can give us a cash offer real quick and be done with it.” And so I went out and I walked through the house, and it had some deficiencies, but I asked him a question. I said, “Do you have $10,000 that you can finish fixing this house?” And they go, “Well, yeah, we have a line of credit.” I said, “Look, I’d love to buy your house. And here’s what I’ll [inaudible 00:05:07] for it, and I think it’s a fair offer, and you’ll do really well.”

But I said, “If you spend $10,000 on this house, you’re going to put $25,000 more money in your pocket.” Now, I can tell you that the other cash companies are not doing that.

Tommy:
Right. Correct. You’re right.

Scott Whitwam:
They’re trying to [inaudible 00:05:23] for the least amount of money they can and maximize their profit. And they really aren’t concerned about what the homeowner’s situation is. All they care about is what theirs is. And so we can [inaudible 00:05:35] to them. The other thing is, come into a house and it’s obvious the people don’t have the money. And there are a lot of people who are facing foreclosure, they’re facing foreclosure because they’re out of money. They don’t have the $10,000 to put in the house, or the house has so much deferred maintenance that it’s just overwhelming for a homeowner to even try to do.

And then what we do is we do something that other folks don’t do, other real estate buyers don’t do, is we do market condition adjusted offerings. So what does that mean? We actually look at what the market value is of the house, and we share that with the homeowner. If you, we’ll just say $75,000 into this and remodeled it, or 100,000 and remodeled it, here’s what the after repaired value of the home would be. And if you were in a position to do that, get it all remodeled to be marketable and sellable, and we could put it on the market as a retail and sell it, and maximize the sale price on the property.
Tommy:
Right.

Scott Whitwam:
But we also go, “Okay, here’s what other homes like yours have sold for. Here’s how much it’s going to cost us to repair it.” We show all the numbers, let them see all the data. We’re not hiding anything from people that we work with. We want them to know the information. We want it to be a win-win. I mean, obviously we have to make money. I have people that we have to pay. My guys who remodel houses, they like to get their paychecks every week.

Tommy:
Absolutely.

Scott Whitwam:
Like anybody else would. But at the end of the day, we don’t want somebody getting absolutely fleeced on their property. And that’s what you and I know, because we’ve worked on this several times. It’s like, hey, this person’s in this rough situation. How can we get them the most amount of money with this thing? And so that’s a little bit different than what other companies do. And when somebody is facing foreclosure, it’s nice to have options. It’s nice to have the data, nice to know where the number came from.

Tommy:
Absolutely. And that’s one thing, too, that I always like to include in anything, any of our offers, is a hundred percent transparency. We like to assist people from point A to point B and for them to thoroughly understand where our numbers are coming from and whatnot. So it’s very important to us. So you know what, Scott, I just want to say thank you so much for your time. I know you’re busy out there, and we’ll catch up here shortly, and thank you so much.

Scott Whitwam:
Absolutely, Tommy. It was great talking to you. Have a great day.

Tommy:
You too. Thank you.
Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

What Do You Have To Lose? Get Started Now...

We buy houses in ANY CONDITION. There are no commissions or fees and no obligation whatsoever. Start below by giving us a bit of information about your property or call (866) 883-8616...
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *