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Updated almost 16 years ago,
asking for input on possible wholesale purchase
New here, and don't have any idea of what I'm talking about, but here's the deal:
There's a house I'm interested in for myself. List price is 200,000. The owner, who had tried FSBO is now gone, job transfer. He bought it 3 years ago for 130,000, and did a little work on it recently.
The sign on it now has a few letters and a phone number, not a real estate agent or company.
After reading a TINY bit here, I wonder if that seller now is a wholesaler, or at least someone who bought it at a lot less and is now asking the same as what the original fellow had. According to the assessors office, the owner listed is the same as purchased it 3 yrs ago.
I had talked to a real estate agent about it, but have not yet made any offers.
My OWN desire would be to get it for about 135 to 150,000 --a 150 mortgage I could afford, with only a little out of pocket each month. Not good, I know, and I can't sustain that for long. 135000 would be good, but what's the likelihood of them accepting? The market is sort of depressed, and some similarly sized places in that subdivision sold recently in 140-160 range. Other houses sit for 2-3 months, and some listings just expire after that.
What would you folks suggest at this point?
use the realtor, make offer of 135?
forget realtor and make offer myself? What doI need to do that?
what other things would you suggest?
If it is a wholesaler who has it, what is he probably looking for, what do I need to have in hand when approaching him?
If he finds my offer way too low, will he counter?
Thanks