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Updated almost 6 years ago,

User Stats

24
Posts
6
Votes
Derek Cespedes
  • Flipper/Rehabber
  • Miami, FL
6
Votes |
24
Posts

Pre Foreclosure Question

Derek Cespedes
  • Flipper/Rehabber
  • Miami, FL
Posted

If I have a property that I’m interested in and it is in pre foreclosure and the auction date is 30 days out.. how would I go about the deal? So the property has a balance of $215,000 still owed on the loan. The arv is about $335,000.

I want to wholesale the deal now, Would I offer more than $215,000 so they can pay off the loan and walk away from a foreclosure or do I short sale? Considering $215,000 is a lot how would I do this deal?

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