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Updated over 10 years ago, 04/02/2014
Need help! Homeowner probably needs a short sale/deed in lieu
Homeowner with equity in home, who wants to sell property, asked me for a deed in lieu, but I am a wholesaler and I don't know how to talking to a lender to negotiate on his/my behalf.
Home is comped at $130k to $140k. Owes $66k. Needs at least $15k in work but is asking for $130k. It is in/near a good, historic area of city.
A) how should I navigate this so I can profit as a new investor with no experience in this type of transaction &
B) simultaneously get this homeowner out if this situation?