All Forum Posts by: Wanda Walter

Congratulations, loved your choices !

Hi Ibrahim S,

Thanks for taking your time to answer.

[i]When you say 'Appraised' value, appraised by whom? An Appraiser?
I meant by an appraiser.

[i]Are houses "around it" actually selling for $70k?
Yes.

[i]How much in repairs does the property require?
None. It is moving ready.

[i]Is $69-70K the ARV of the property?
It doesnt need any repairs at all. The price listed ($34,900) is the balance owed to the bank.

I'm a newbie. I'd found a house that looks like it can be my first deal. House is just listed as a foreclosure. I will be using OPM to buy and I want to resell it ASAP. The house is listed for $34,900 and the appraised value is $69K. All houses around it are appraised for $70K. This house is very well kept and my questions are:
-What are the steps to do in a double closing?
-How can I find motivated buyers when I don't even own the property yet?
-Where do I find them?
-What do you consider is going to be a good price to ask for it?

Thanks in advance.