Need Help Quick Got Seller Response

[Ricardo White]

So i ran a We Buy Houses Craigslist ad and had a "motivated seller" ask me if I could buy her home. I told her to e-mail me some details on the property she sends back:

3bedrooms/2full baths I owe 110,000 on property..........3mths behind.

The tax vale on the house is 105,520

i got 3 Comps all in good shape
$110,000.00
$110,000.00
$112,000.00

What should i reply back to the seller what are the next questions to ask? Is this even a "deal" do I have any options here.

Thanks,

Ricardo (New Guy)

[Jon Holdman]

If he owes $110K (plus late fees, back payments and legal fees) and its only worth $110K, you would need to negotiate a short sale to make a deal out of this. It will depend on your buyers, but you're probably going to need to be down around $70K to pay your fee, the transactional lending costs (no assignments on short sales) and still sell to an investor at a decent price.