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Updated about 5 years ago,
Figuring Out Comps/ Repairs for Deal
There's a 4 bedroom, 2 bath home in Austin that I found. I spoke with the seller on the phone. Seller is definitely motivated-- he has his funds tied up in another home he's building, and hinted at being in debt. According to him there's a lot of work to be done on the home-- HVAC is 10 yrs old, and there's a good amount of dry wall repairs that needs to be done, but the roof and the windows has been recently done. He currently has the house under contract, but he's willing to work with me for 310K. That doesn't seem like a bad price point at all, especially in Austin, but it doesn't seem like it would be a good wholesale deal. Going to check out the place on Friday, but not sure on negotiation or how to eye ball house repairs. Looking for some guidance on negotiating, and some networking to pull reliable comps before I head to meet the seller.
Thanks in advance!