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Updated almost 8 years ago, 01/05/2017
How to buy a FSBO property
Hi I am in Broward County Florida and after doing some driving for dollars, I found a FSBO For sale by owner triplex 3 unit, that is not listed on the MLS and would like some help on finding the best way of obtaining this property. This will be my first investment purchase of which I plan on house hacking.
After briefly speaking with the owner in her front yard, She said she has a mortgage with about 60k left on it and would like to sell her house as she no longer wants to deal with tenants, water bill, maintenance, etc. All tenants are on month to month lease. She said she will sell the property for 225k. The property needs some repairs so I believe the there is room for negotiation. She said she can't pay the mortgage and her only options at this point are bankruptcy, foreclosure, or loan modification. She I would like to purchase this with an Fha mortgage of which I have been preappoved for.
Can any please guide me going forward? I'm not sure what my next step is in pursuing this deal.
Thanks.