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Updated about 10 years ago, 11/24/2014

User Stats

68
Posts
11
Votes
Tony Johnson
  • Professional
  • Houston, TX
11
Votes |
68
Posts

Retiree wants FMV on clear property?

Tony Johnson
  • Professional
  • Houston, TX
Posted

How do you do deals on a property that has no mortgage (Free & Clear) but the owner wants market value? This is close to the third property where I've been tempted to do the deal as a realtor because there's not much space between the Seller asking price and the Market Value. Any way to do a deal on a property with small %Equity

Case:

Seller asking price: $250k

ARV: $260k

Mortgage: $0 [Owned Free & Clear]

Repairs: Minimal ($5-10k) to put in pristine condition, Property is move-in ready

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