Is there anything I can do?? Help!!

[Ashley Guzman]

Hi guys I posted about this a few days ago but I have not really received a lot of input. I have a little more information now and can probably form a better question. I am a wholesaler out of the Fort Worth area and I am also trying to develop a farm in the Weatherford area. I only wholesale deals. An owner responded to my marketing and said her house had been in a fire and she just wanted to walk away and start over. After a few questions I decided to meet with her and see if anything could be done. Upon arriving at the property I saw what I had previously assumed which was that the house is a total loss. It would be a tear down and I am guessing a new construction type deal. The owner  said she just wants out and would settle for a few grand. I did not put her under contract because I do not want to harm her in any way if this is not a deal that can get done. I feel like she has been through enough as it is and I do not want to string her along with false hopes. I really want to help this owner so if anyone can point me in the right direction it would be greatly appreciated.

Now for my questions. How would I do comps on this property? Should I treat it as a lot or compare it to other houses that have sold in the area? How do I figure out repair costs considering the building would have to be torn down, cleared out and rebuilt? What type of buyers would be interested in a deal like this? I know how to analyze normal wholesale deals but with my lack of experience I have never dealt with anything like this. I would appreciate any positive input. I am learning here and would love to help this owner out, but if it is not something that can get done I need to let her know as soon as possible so that she can figure out her next steps. Thanks in advance. I look forward to hearing from yall.

[Karen Margrave]

@Ashley Guzman  It's basically a lot. There is cost involved with tearing down the house, at the same time, there will already be utilities to the property, etc. so that's a benefit. Also, since a house had been built on the property, you may get some credit back to the next owner for building fees already paid. (Check with the building dept)

You said it's a farm, therefore; I assume it's probably on a septic? 

What is the market like in the area? Is there any demand for new homes? If so, your potential buyer might be a contractor that wants to build a spec home. Look around and see if there are any contractors building in the area, and approach them. Good luck.