Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Innovative Strategies
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

120
Posts
37
Votes
Andrew Yu
  • Investor
  • Little Rock, AR
37
Votes |
120
Posts

How to Profit from This Deal

Andrew Yu
  • Investor
  • Little Rock, AR
Posted

I have a seller wanting to sell his 10 acres of land and his house on it for 30K. Half is wooded with cedar tree, the other half is just grass. It has water and electricity. The house is nice too, 3 bed 1 bath with HVAC, energy efficient windows, and hardwood flooring. Everything is setup very nicely. The road to the property is paved too, not terribly far from city limit. So the house itself is worth 40K at least from my guess. I looked up recent comps sale records. His neighbor with also 10 acres of ONLY land sold for 60K a few months ago...

However, the seller has a judgement (close to 200K) that's gonna go in effect on the 18th. He bought this property with owner finance, so he doesn't have the deed yet (contract for deed or land contract), still owes about 20K, wants to make 10K profit. I know there's no way title company can do title search and close before 18th. So the seller is concerned if we close after 18th, then that 10K profit of his will go straight to his debtor. How can we avoid that and make this a deal? I plan to wholesale it btw.

Loading replies...