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Updated over 9 years ago,

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2
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0
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Adam H
  • Long Beach, CA
0
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2
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Potential 1st deal but in process of foreclosure.. advice please

Adam H
  • Long Beach, CA
Posted

A friend of mine was mentioning to me their significant others family was going into foreclosure and that they didn't care because they owned another house that they would move to in another state. 

So I suggested I could wholsale it for them and get them a cash buyer and possibly avoid their foreclosure on there record. 

They said they may like that idea.

Details I have so far.

Not verified but there is equity in the house looks to be over 200k.

The house is in overall good condition with exception of storage.

So it being in foreclosure what are the steps I need to take to put it under contract?

How should I structure the deal so that they can recieve money and absob no costs to them?

What would you recommend to best position my offer conservatively for a cash buyer, as I should have room (equity to work with)?

Any help would be greatly appreciated

Thank you!

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