First Opportunity

[Jose Robles]

New to BP and extremely thankful for all the information that everyone posts to help us newbies. I've been researching for a while and and have gotten a ton of it from her.

I'm from NJ and have a seller in Allentown, PA with 37 year old 3BR 2 BTH house. He paid $245,000 for it 4 years ago. He says he owes about $172,000. He is looking for someone to assume his mortgage. After reserching the comps. A couple properties within 1 mile from there with simiar Square Footage and same amount of Bedrooms and Baths were selling were selling for about $225,000. Using the 70% rule equals $157,500. Several have also sold for that price. I offered him $150,000 cash and he said he would get back to me. I would try selling to end buyer for $160,000 who invests in rentals or Buy and Hold. I'm looking for minimum $2500 assignment fee. Just wondering am I on the right track in the thought process.

What fees should I expect on my behalf to make this deal?