equity in a deal
is there a way to check the amount of Equity in a property before agreement on a deal?
I think what you are asking is how can you calculate the equity the seller has in his property. You can research through the registry of deeds if they have a mortgage or not. Unfortunately you will have to make some assumptions and make some calculated guesses. Somebody could have purchased a house for $100K and only had a $50K or $60K mortgage. The mortgage would be recorded but not always and not often the amount of the note associated with the mortgage is recorded. Listsource.com has an option to find properties with a certain equity though I'm not sure how they get the information and I've never purchased that type of list. I'm sure there are others that wholesale properties that have more experience with this.
thanks much @RobBeland
