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All Forum Posts by: Gene Seifert

Gene Seifert has started 1 posts and replied 1 times.

Rehabbing & House Flipping

Post: New guy needs explination

Gene SeifertPosted
  • Texas
  • Posts 1
  • Votes 0

Equity/Spread: $139,000
After Repaired Value: $495,000
Cost of Repairs: $0
Asking Price: $356,000
Seller is willing to give back $85k and pay 1% towards the title policy. Seller states that closing cost won't be any more than $6k with his title company. Seller will send appraisal upon request.

Now why would the seller give back $85k? What is wrong with this deal? Or is this normal? Need some of the experience here to explain and advise. Thanks!

0 Votes