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All Forum Posts by: Damien Cox

Damien Cox has started 17 posts and replied 22 times.

Post: wholesaling conundrum

Damien Cox
Pro Member
Posted
  • Granada Hills, CA
  • Posts 22
  • Votes 0

Thanks for information. Many of the "motivated sellers" I'm finding are upside down

Post: wholesaling conundrum

Damien Cox
Pro Member
Posted
  • Granada Hills, CA
  • Posts 22
  • Votes 0

How does wholesaling work with a distressed seller who is upside down in their mortgage? E.g. I find a seller who is four months behind on their mortgage,  they still owe 100k on the mortgage. I pull comps in the area, and they are around 80k.  If the maximum offer allowable is around 50k,  if I offer that number even if the seller jumps at that, and I try to assign at 65k doesn't the bank have the final say in this situation.?