Off-Market House in Maine

[William Wironen]

I'm home visiting my parents in Southern Maine and noticed that one of the houses in their growing neighborhood has been mistreated in the past few years. Apparently the elderly woman that had owned the house passed away and left it to her four daughters. Three of the daughters want to sell and the fourth does not.

The house has been vacant for years now and is starting to show its disrepair: siding is falling off, fascia and soffit have holes in them and critters are likely, apparently the inside is gutted (for the most part), etc. You all get the idea. The house is 2,500 SF on 1.08 acres in a well established neighborhood with new houses going in within a 1 mile radius worth around $450K. Within the past year the houses in the neighborhood have averaged about $120/SF with no fancy bells and whistles inside the homes.

My idea was to find a way to contact the owners and see if I can offer them a max of $150K (previous offers of $120K have been provided and turned down). The question I have now is funding because I don't have any partners or hard money lenders. Any recommendations on a loan option or route I can take to help get the funding? Feel free to reply here or message me directly.

I'm excited about the opportunity and appreciate any feedback!

William