Newbie wanting my 1st contract

[Louise Whidby]

A gentleman contacted me via email because he wants to sell his moms home before he leaves the country. He says he and whom ever he is working with cannot agree on a price. I asked are you working with a RE agent or Investor? I am waiting on that answer because we are emailing. I also asked earlier how much did he want for the house. He says, 60k. Prior to me asking I checked with Zillow to get a Zestimate of 68k. I have now asked Ned's #1 question : Do you need to get any money out of this or do you just want this problem to go away?

Ok he just emailed me back as I am writing this:

Right now I am not working with an agent or investor. I do need to get some money out of this. Presently, my 89 yr old Aunt is still residing in the house, but we are working diligently to get her into a senior citizens place where she would be comfortable. I do want this problem to go away for good. I do not know of any liens against the property. I can be contacted on xxx-xxx-xxxx, if you have any further questions or concerns. Thank you for your assistance in this matter.

How should handle this from this point? Do I just walk away?

[Renee Carter]

Question: do you have a buyers list? You need to find out what cash buyers are buying at. For Ex is it 60...65...70% of the After repair value minus repairs. You need more information on the house. Please don't rely on zillow for fair market value go to county assessors site and get a baseline from there. Then have a realtor pull all cash sales for the last 6 months and give you comparables. Only then will you know if you have a deal and who can flip it too. Go to county recorder website if your area has online database you can search and see if there is still a mortgage, are they in foreclosure meaning have they been served a notice of default or lis pen dens depending on your state, any liens and who really owns the house. Go to online tax site and see if the taxes are current. That is as preliminary as your going to get before you have to make an offer if its a deal. If you don't know about any of this stuff then you are not ready to make any offers and close deals. I suggest you partner with a local wholesaler in your area first before you dive in.