Newbie found what can she thinks can be her first deal.

[Wanda Walter]

I'm a newbie. I'd found a house that looks like it can be my first deal. House is just listed as a foreclosure. I will be using OPM to buy and I want to resell it ASAP. The house is listed for $34,900 and the appraised value is $69K. All houses around it are appraised for $70K. This house is very well kept and my questions are:
-What are the steps to do in a double closing?
-How can I find motivated buyers when I don't even own the property yet?
-Where do I find them?
-What do you consider is going to be a good price to ask for it?

Thanks in advance.

[Jon Holdman]

Wanda Walter you're missing something. I don't know what it is. But if a house that was truly worth $70K was listed on the MLS for $35 it would have been sold in a matter of hours.

When you say " houses around it are appraised for $70K", it doesn't really make much sense. Who payed for all these appraisals? I suspect you mean tax assessments.

When you say its "listed as a foreclosure" do you mean its going to be auctioned by the trustee (or sheriff or whoever does this in your area)? Or do you mean its on the MLS? If its scheduled for auction, this is the starting bid. If its truly worth $70K, it will likely sell for more than $35K.