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Updated almost 10 years ago,
Is this deal a waste of time
Good Afternoon BP. Just looking for some advice on how I should go about a situation. I received a phone call from my direct mail campaign & the homeowner is super motivated. The seller's motivation is so extreme that he doesn't want to make anything out of the deal, his only desire is to worry less about the property. He mentioned he would settle for mortgage balance
It is a 2bed 1bath colonial style house
Paid $75k with 20% down back in 2007
It has a mortgage balance of $49k
According to seller the house needs cosmetic fixes (paint, refinish hardwoods). The kitchen, bathroom & windows were updated back in 2007 when first purchased.
Rented for $900
I know this sounds simple but I looked up comps & similar style homes sold on average for $30k. Is there a way I can make this a win-win. Thanks in advance for any feedback.