Cash invested: $60 Sale price: $365,000 Sub-to deal with homeowner pre-foreclosure How did you find this deal and how did you negotiate it?

.: I just added up all my interest paid in 2024.

Summary;  95% of all pre forclosure owners refuse to even talk about selling inspite of the empending auction. 

I won't pay more than what it's worth to me, regardless of what someone else paid for it.

My mom lives in a nice house that she has paid off.

I have already shopped insurance, and the sellers are providing $5k towards prepaids/closing costs. 

If you discovered the issue before paying for the appraisal that could hopefully save some costs (in case the appraiser is with the wrong AMC).Pre-vetting with the lender on rental history/AIRbnb/1007 as well as seasoning could help. 

Quote from @Landon Whitt: Is anyone seeing a sizable increase in pre-foreclosures in their market yet?

Yeah, no pre-approval for us as well.

If you choose not to rebuild/replace your settlement would usually be for actual cash value.It's unlikely you can get a settlement for above the coverage amount you paid for.