Need help structuring this deal
Hello all!
I have a motivated seller (from Craigslist, btw) who wants to sell his house to avoid foreclosure. He says he's not in foreclosure yet...only forbearance for the next few months. He owe's about $3,000 to bring the payments current. The ARV of the house is about $77,000 and he says he still owes $60,000. He says he 100% wants to get rid of the house and only wants to pocket $2,000 after all is said and done. Additionally, the house is in good condition and has a brand new roof.
I was thinking a sub2 deal was the best way to go (if seller agrees, of course)...is that correct? Did I provide enough information to get guidance on this?
3/1, central A/C, brick/sheet rock, new ceiling, 882 sq ft.
Thank you all in advance for your expertise!