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Updated over 8 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
Tynia Avery
  • New to Real Estate
  • Fayetteville, NC
2
Votes |
11
Posts

Deal Analyze What should I do?

Tynia Avery
  • New to Real Estate
  • Fayetteville, NC
Posted
Have real estate investment deal in Wilmington, NC that I would like some advise on. The current owner purchased the property at $225-$227k back in 2006. The property is currently been appraised at $203k. Initially she took a mortgage out for $180k and has refinanced throughout the years to currently $143,400. The owner is DESPERATE to get rid of this house so that she can move out of state. No major repairs needed maybe replace carpeting, but she just wants to breakeven really. Can anyone advise as to how I should structure this deal since she's so motivated to sell. where I can free her from the house and also gain a profit? Any and all advise is welcomed. Thank you!

Most Popular Reply

User Stats

39
Posts
6
Votes
Anton De Vries
  • Wilmington, NC
6
Votes |
39
Posts
Anton De Vries
  • Wilmington, NC
Replied

@Tynia Avery

Seeing the situation she's in, i would offer points up front. She's getting married so probably could use the cash. Not sure about the rest, because I don't know background info on the house. The points upfront and you assuming the loan may be enough. Map out an exit strategy so she knows what exactly your gonna do, and when she can expect it. That will build confidence and trust . And if you exit early, and get her loan paid off, well you've done what you promised! Early! I always wanna do right by people! It's important.

Anton

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