I found a motivated seller, now what?
Hello Community,
My next door neighbor's house was a rental until year ago when the renters moved away. It has sat vacant for the past year. I got the owners number from the previous renter and called. He lives 3 hours away and can't get out to the house enough to do anything with it. He has been making double mortgage payments for the past year and wants out. He says he doesn't want to make a profit on it, just wants to get what he owes on it.
Stats:
He bought in 2009 for 88k
Remaining on Mortgage: 76k
3 bed / 2 bath
1200 square feet
House worth 95k
What can been seen from the outside (metal roof installed within 10 years, a 2010 hvac unit, no major problems)
I am going to see the interior sometime this week.
Since he is super motivated to sell, is there anything I should be looking for to make the deal more in my favor? Is there anything i'm missing? First attempt in doing anything.