Stumbled into inherited equity: how would you handle this?
I have never wholesaled a deal but may have an opportunity! This is in the Greenville Easley Anderson area.
As a novice, I'm requesting any insight y'all can give on how to handle this:
- My dad has unintentionally located a distressed seller (a long-time employee whose mother passed away).
- The 2BR/1BA house is long since paid off so there is equity.
- The house is 45 minutes a way from me so we'd rather wholesale than buy/hold.
- When my father asked his worker "what can I do to help?" the daughter said "one thing I need to do is get rid of the house."
- My dad said "we can help with that."
Thanks to my BP friends, I do have the SC Contract of Sale form. What are my next steps to complete a wholesale deal?
Determine an approximate value of the house? Find out how much the daughter wants for her mother's house? Find a buyer for the house via Craigslist? Get the contract filled out with it being sold to "Dad and/or assigns"? Determine an assignment fee that is very fair and upstanding (how do I do this?)? Hand the contract over to our lawyer?
I don't want to over-complicate this and I'm really excited to finally take action.
I appreciate any pointers you can share!
Brian