Tina
had just inherited a 2 bedroom/2 bathroom
property located on Green Street from her
Grandfather. The property was previously
used as a rental, however it had not been
rented for some time due to fire damage
incurred from a year before.
The property was in violation of code and
was also delinquent in taxes. Tina was
grateful that her Grandfather willed the
property to her, however she wanted nothing
to do with it as she lived in Peoria,
Illinois and didn't have the time or
resources to repair and manage the property.
She wanted to sell, but was somewhat torn
due to the fact that the property had
sentimental value.
The win-win solution structured by Schwaps.
Schwaps, purchased the property in
as-is condition from Tina for $50,000. In
consideration of Tina, Schwaps offered
Tina an option to purchase the property back
from Schwaps for 85% of the properties value
at the option date.
* The
story above is just one example of the many
ways Schwaps may serve your Real Estate
Needs |