Wholesaling
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
Potential 1st deal but in process of foreclosure.. advice please
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!