Advice on structuring deal

[Jensen Jeune]

I currently have a deal under contract from a woman whose home is currently in the Pre-Foreclosure stage with Ocwen. The home was purchased in Sept. 1999 for $225,000.00. The owner has re-financed 2x within 13 yrs and the total for the home loan is $346,000.00

Ocwen is currently calling a total amount of $219,297.02 to bring the loan to a current status. The city tax assessors office has confirmed that a current balance on taxes due are $1,481.08.

There have been 2 recently sold listings on the street for $429,000 and $535,000 with estimated values being listed as followed:

SmartZip.com

• $418,400 Est.
• $355,640 Low
• $481,160 High

DataQuick.com

• $530,683 Est.
• $378,916 Low
• $570,887 High

Eppraisal.com

• $545,334 Est.
• $463,533 Low
• $627,134 High

My inquiries are whether or not this deal can be structed as a wholesale deal, and if so, what would be a sufficient asking price with the criteria that has been provided?

If this deal is not a great candidate for a wholesale opporunity, would the next best course of action, be to structure the deal as a "subject to"

[Ann Bellamy]

Sorry I'm late to the party, guys.

Also remember if this ends up being a short sale, you won't be able to assign the contract, and will have to close twice. You didn't mention your contracted price, understandably.

You can bring this deal to the Buy/Sell on Tuesday and see what kind of response you get.