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Updated about 6 years ago on . Most recent reply

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5
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0
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Chukwuemeka E. Nwozuzu
  • HYATTSVILLE, MD
0
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5
Posts

Can I wholesale a Short-sale

Chukwuemeka E. Nwozuzu
  • HYATTSVILLE, MD
Posted

I hope this is the right forum category for my question.

Hello All I hope all is well. 

So here are the numbers based on a seller's LIS PENDEN pre-foreclosure problem in Jupiter, Florida.

Overdue payments as of 6/15/11-12/15/17: $261,072.12

Unpaid advance balance: $18,018.92

Reinstate loan: 279,891.04

Unpaid principal balance: $430,030.33

Repayment of escrow balance $109,317.47

Unpaid late charges: $1,465.62

Unpaid interest: $110,350.33

Accelerated amount to-date: $669,982.67

Unpaid differed interest balance: $30,476.39

Interest rate: 3.080%

Maturity Date (month/year): 8/36

ARV from Real Estate agent: $650K- $750K

Repairs: $100K - $150K

After repairs: R.E Agent says it would resale back at $850k - $1,000,000

I'm planning to offer a short sale offer of $300K - $400K than wholesale or Fix/flip with a private lender or financial partner to split profit.

Question: Can I wholesale a possible short-sale?

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