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Updated almost 8 years ago,

User Stats

12
Posts
3
Votes
Carmen Massie
  • Financial Advisor
  • Houston, TX
3
Votes |
12
Posts

Newbie Needing Advice on Property as Wholesale or Flip

Carmen Massie
  • Financial Advisor
  • Houston, TX
Posted

I need advice or someone to work with on this property deal if it is one. Property located in Tennessee and is listed for sale at $515K from builder. This is a newly built home 5 bedroom, 4.5 bath and 4 car garage. The house was built in 2014, one of the first and is located in a gated community as the builder continues to build. There are two others listed for sale and two occupied.

I discovered the builder is trying to short sale for $360K. An agent has provided a CMA of $450K for the property. The agent disclosed the property has traffic but potential buyers state listing price is way too high and reason for not purchasing. Other houses in the subdivision surrounding the gated property is valued and sells for $200K - $489K.

What is a newbie to do any advice is appreciated?

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