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Updated over 9 years ago on . Most recent reply

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La'Desha Marchanti
  • Baltimore, MD
2
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I have a motivated seller how do i find a buyer ?

La'Desha Marchanti
  • Baltimore, MD
Posted

I am  very very new to this. But my coworker wants his house off his hands and I am not sure where to start to find a buyer or how to wholesale. I am currently reading the beginners guide. I would need a contract of course and where would I get that ? Also the house is listed on Zillow as off the market. My co worker said he had a realtor look into but its been about a year now and no luck. can someone please help me please .

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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
  • Rental Property Investor
  • Mercer Island, WA
14,128
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

Making deals with coworkers is a good way to end up with tense relationships at work.  Especially if they're getting hurt and you're making money.

First you need to figure out if there really is a deal here.  What's the property worth?  What would it be worth fixed up?  How much work is needed?  What would it rent for?

Just because someone says they want to be rid of a house does not make them a motivated seller.  The fact they had an agent look at it but didn't sell makes me think they're not very motivated.  They may be wanting too much for a retail deal, and that's why they never pursued selling with an agent.  If that's the case, this is very unlikely to be a good wholesale deal.

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