Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
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,

User Stats

69
Posts
14
Votes
Brian Knox
  • Mauldin, SC
14
Votes |
69
Posts

Stumbled into inherited equity: how would you handle this?

Brian Knox
  • Mauldin, SC
Posted

I have never wholesaled a deal but may have an opportunity! This is in the Greenville Easley Anderson area.

As a novice, I'm requesting any insight y'all can give on how to handle this:

  • My dad has unintentionally located a distressed seller (a long-time employee whose mother passed away).
  • The 2BR/1BA house is long since paid off so there is equity.
  • The house is 45 minutes a way from me so we'd rather wholesale than buy/hold.
  • When my father asked his worker "what can I do to help?" the daughter said "one thing I need to do is get rid of the house."
  • My dad said "we can help with that."

Thanks to my BP friends, I do have the SC Contract of Sale form. What are my next steps to complete a wholesale deal?

Determine an approximate value of the house? Find out how much the daughter wants for her mother's house? Find a buyer for the house via Craigslist? Get the contract filled out with it being sold to "Dad and/or assigns"? Determine an assignment fee that is very fair and upstanding (how do I do this?)? Hand the contract over to our lawyer?

I don't want to over-complicate this and I'm really excited to finally take action.

I appreciate any pointers you can share!

Brian

Loading replies...