All Forum Posts by: Courtney S

Ok well based on a recent comp sale it sold for $65k and another sold for $169k and the property needs some work. so thats why im thinkin of offering $80k

I plan to wholesale it as-is

I got from county records/appraiser site

I have a property thats worth $211,950 but is in need of a few repairs such as New Paint, Needs a Stove, A/C, Windows, Needs new Cabinets and maybe some doors replaced.

The owner paid 94k cash for it in 2003 and the property has been vacant for 3 months now. I was thinking of offering $80k for it. Do you think its worth that offer price?

Ok so what should I use to get value for the property? I usually use county records b/c it gives me the owner's name. mailing address. and I can find out other info.

Some ppl say to use zillow.com or cyberhomes.com but which is the real value? or at least close to the real value?..So thats y I use the county information.

I got the $213,290 from the county records website which is a 2008 market value. It obvisiouly has dropped because they paid $284k

The website showed that last year the house next door sold for $127,500, I dnt know whats the market value for this home.

But like I said I may pass this up..If its goin to take 4-6 months for my first "payday"..Im just goin to concentrate on doing wholesaling..But for some reason Im not gettin any sellers calling...Ive tried contacting absentee owners, etc..but nothing,,,

The mortgage $227,200 was recorded first so that'll be the first mortgage and the $58k mortgage is the second one...Is it true that a short sale could take 4-6 months to close??

Ok everyone is saying I may have to do a short sale cause my original plan was to just wholesale it. And I know what a short sale is and what papers may be required. But of course never done one.

And Im not sure if the mortgage companies would even accept a short sale. And I dont know how long it will take to close on a short sale...

I think I may pass this up.

I may have a possible deal, but im not sure if it'll be worth it?..

The property is worth $213,290 and recent sales comps shows a house next door sold for $128,500 and others like zillow.com shows comps between $183k-190k.

And they have 1 mortgage for $58k and the other mortgage for $227,200.

Do you think its worth doing a deal? I plan to offer him $127,900.

Ok well owner financing is pretty self explanatory.."The owner can finance part or all of the deal"..

But my question is..How do you know if an owner is able to finance? And what are the steps in doing the owner financing, i guess?

Thanks in advance