Home owner is relocating and wants to sell 4 bedroom 2 bath 2,200 sq/ft house in good neighborhood.
Amount Owed: $103,000
Repairs: none (he says)
After Repaired Value: $160,000
Max Offer: $104,000
I have two problems.
1. I cannot get MLS listings because my agent has quit. I have requested listing from another agent and I am waiting.
2. I have no money. I cannot come up with $100k+, maybe about $50k. I have no lender or investor lined up.
He said he was in No Hurry to sell, but entered $150,000 as the least he would take to sell fast.
The owner paid $206k in 2005 and the tax site has a value of $245k, I get $6o per sq/ft from RealQuest as a minimum. The tax site says it is 2,500 sq/ft not the 2,200 the homeowner said, which gives me $150, but those comps were not all brick like the subject. My $160k is a rough estimate – I need those MLS listings.
My offer will be 65% of ARV (after-repair-value) and this is almost what they owe. I hate my offer being what he owes. Looks like I just picked it because of what he owes.
I have not yet called the lead because I want the MLS listing and I have no money. I think this is a mistake and you should call quickly. Once I get the MLS listings I will make an offer.
Get a good deal and the money will find you (I hope).