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Updated over 11 years ago,

User Stats

47
Posts
5
Votes
Bobby R.
  • Investor
  • Bowie, MD
5
Votes |
47
Posts

Flip the house or the note?

Bobby R.
  • Investor
  • Bowie, MD
Posted

One of my yellow letters went to an owner where it's listed w/ an agent (he called me). The sellers want what the house comps for, let's say $100K. There's a buyer already in the house buying on land contract that doesn't expire. They balance on their loan to the seller is over $200K, six years into a 40 year mortgage. This land contract doesn't expire according to the agent and they buyers in the house can't refi due to the comps.
How do I flip this house or note? Sellers owe only $12K; they just want out.

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