We been in contact with OptionOne Mortgage on a property that is in PreForeclosure , they are mortgaging for 283k with arrears.
The property is in a good neighborhood but the property is run down and lots of junk in, on, and around the property.
The Comps for the neighborhood is 455k-510k
These Comps are in saleable condition though. Our property is a 1929 Junker.
The Seller is very motivated and would agree to sale with minimal profit to himself
I was considering trying to assign the property to a builder for 25k or Trying to Short Sale it also...if possible?
Any & all input will be great Thanks Everyone!






