2727 E. Pueblo Avenue, , AZ
2 BD 1B / Carport
Tommy H. was in his late 50’s, when illness struck, and he fell on hard times financially. As a result, he had to move out of his small home on E. Pueblo Avenue, and in with family. He rented the home to a good tenant, another older retiree who was a metalsmith, and did any and all repairs the home ever needed. Tommy’s son needed money for school, and so he decided to sell this property to finance his son’s schooling.
The home was tiny, less than 500 sq. ft., but it was in decent shape and had been problem-free for the three years the tenant had been there. Still, it had been built in 1950, so there was no getting around the fact that it was a very old, very small home. In addition, there was only a carport, no garage, and the lot was virtually solid brown dirt; there was no delineated front or back yard, no landscaping, no trees – nothing but some chain link fencing and scrap metal. To say there was “no curb appeal” was to put it kindly. Not only this, but there was a tenant in place, a good tenant who had never violated the terms of the lease in any way, and who wanted to stay as long as possible. By law a tenant cannot be removed if it violates the term of the lease.
The home was a tough sell simply by virtue of it’s total lack of physical appeal. Unfortunately, the house and lot were so distressed that even the fact that it was in good shape and had been completely re-plumbed and re-wired in 2003 couldn’t save it – or sell it. Not only that, but with a tenant in place who wanted to stay as long as possible, it made it difficult for any buyer who might want to do something else with it. In addition, Tommy wanted to sell it with the condition that the tenant be allowed to stay; few people are interested in a house with conditions like this in place, even when the property is looks good or is in a great location.
What Fair Property Buyers Did:
This was one of our clients who found us online and simply filled out our form; he never even completely finished the form, as he didn’t have all the numbers at hand. We called him and made an appointment to see the property the next day, and meet his tenant. After viewing the property and speaking with the tenant, we made an offer the same day.
The End Result:
Tommy had owned the home for a long time, and because he was ill and had moved, he had lost track of much of the documentation for it. We helped him track it down, and made sure he understood where he was in terms of title and mortgage. We were able to offer Tommy an amount that would cover both his mortgage and the cost of his son’s schooling, and – we worked out an agreement whereby his tenant could stay in the place indefinitely.