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Updated almost 5 years ago,
Bought subject to. Selling with seller financing. Realtor?
Hello! I Bought a property subject to (took over mortgage with 81k owed—ARV 130000) paid the seller 3k to move and wholesaler 6k assignment fee.
I want to sell it with seller financing. Asking for 119k... seller financing terms being (12k down and monthly payments being 1100 taxes and insurance included on a 30 year amortized loan at 8% interest.
I have done this twice in Texas so far and bought and sold both of them in less than a week entirely from posting on Facebook.
This current property is in Hope Mills, North Carolina, and I am having no problems getting showings (10-12 every weekend for 3weeks) but I am wondering what using a realtor would be like here. I can’t pay the 6% or even 3% as my 12k down payment I would collect is bringing me even. The home also needs some minor repairs and finishing (5-10k worth) do realtors even sell homes like that? I am wondering if anyone has ever negotiated anything like this with a realtor, or even just paid realtors to have showings for them? What do they charge for this? I may be entirely better off doing what I’m doing, especially if I’m not willing to make repairs. But I have a feeling most investors who are doing wraps aren’t doing what I’m doing. Im sure they use realtors, I’m just wondering how. Any tips and advice would be greatly appreciated!