All Forum Posts by: Dave Smih

I am trying to wholesale a bank owned property and this addendum has me confused ?
does this mean I cannot make more of an assignment fee than my earnest deposit? if that's the case I could only make $500 because that's all my earnest was. I need help on this any insight would be great. Thanks

The Buyer shall not be allowed, under any circumstance, to receive funds from the closing that exceed the amount of
the earnest money plus prepaid deposits paid by the Buyer. In the event that the proposed HUD reflects proceeds to
the Buyer in excess of the earnest money and prepaid deposits, the closing cost credit by Seller shall be reduced so
that the Buyer receives an amount exactly equal to the earnest money amount, plus prepaid deposits by the Buyer

houses up the street are selling for $115k-$130k where im at houses sell way above there tax assesed value witch is 100k on this one. nobody pays full FMV nowadays here and finding FMV is hard when houses never sell for FMV Its just a reference point investors use to know how much below FMV there paying when they buy it but I believe and my Realtor believes its worth 115k -120k

wholesalers only please.

I've been going back and forth with the bank on property in CA my potential first wholesale deal and I'm not sure if this is a deal or not
zillow says its worth 135k and not just going off that it was last sold for 135k in 2007 and the house is updated and ready to live in. I have them down to their final and it 70k should I agree? how much would you wholesale it for?