Wholesale Deal or No Deal?

[Darren Harper]

Hi - Mr. Newb here. I saw a property in my neighborhood that had a for sale by owner sign. I called and the owner said that he is selling the home for $375k. In my neighborhood, homes can easily sell for 410-430k. If the home is completely updated, homes can sell for 500k+. The owner did say that the home is move in ready and doesn’t require a Reno. He also mentioned that there is an unfinished basement which can possibly be updated add another room. Should I try to get a wholesale deal on this or are my numbers and criteria all off?