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Updated over 8 years ago on . Most recent reply

Account Closed
  • Real Estate Agent
  • Richardson, TX
161
Votes |
511
Posts

Reinstating payments in a pre-foreclosure and buyung subject to

Account Closed
  • Real Estate Agent
  • Richardson, TX
Posted

Hi everyone, 

I found a pre-foreclosure deal with some equity. However, the property doesn't have enough equity to be a wholesale deal but it can be sold to a regular buyer at a discount. The property is in good condition, it just needs some landscaping work. After property taxes and reinstating the loan and doing some landscaping work, I'm estimating there's about 15K equity on the property.

My plan is to buy the property subject to and then sell it to a regular buyer but I'm not sure what steps to take to go through this transaction. Has anyone gone through this process? 

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