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Updated over 8 years ago,
Biggest/ prettiest house, Equity + Motivation!!
I got a call earlier this week from one of my bandit signs, and the guy owns a 4 bed room/ 7 bathroom house 7,000 square feet house got it appraised last week for $564,000 owes $243,000 and he wanted $395,000 at first, but he's getting deployed to Guam on October 9th and just wants to move the property & is willing to take a loss. I think he may take $300,000
The problem is, in my county only 6 houses have sold in the last 12 months over $400,000 & im not sure what kind of solution I can offer this guy to move the house. The only deal he will entertain is getting cash, so he can be done with it (I asked about seller financing, option, etc)
The question is: Should I just walk away? Or is there some kind of solution I'm just not thinking of.... I don't want to walk away, because Motivation + Equity = Deal... but I just don't know what to do.
Any input is appreciated
Thanks in advance, trey.