First property under contract, need advice please!
I recently put my first house under contract for less than 50% of ARV. All of the comps are very solid (MLS-based within 1/3 of a mile and within the last 90 days). My realtor and contractor say it's "a very pricey hot area" and I am lucky to have found this place, however I've had very little response in the last 2 weeks.
I am advertising the property hoping to assign the contract and think the DOM is scaring people off. You see, it was previously listed as a newly renovated move-in ready, eligible for FHA funding etc. when, in fact, it had foundation problems plus several other issues.
How do you suggest I successfully market this property when it has over 300 DOM, or could I be doing something else wrong? I only have 2 weeks to close and don't really want to rehab my first property. It has a huge amount of equity. I just don't understand. Any input or advice would be very appreciated. I am very confused!