Real Estate Investor · Chino, CA · Member since 2016 · 15 posts · 4 votes
These sellers are going through a divorce and very motivated and want to sell there home as is but they happen to still owe on there home although they are not behind on there monthly Payments. How should i go about cunducting business with these sellers and what sort of stratagy would best fit this scenario ?
Any Advice would be wonderful BP comunnity, please I'm all ears !
Investor · Draper, UT · Member since 2015 · 193 posts · 48 votes
10y
@Terrell Spence Have you run any numbers on the house? Is there any equity in the home? There are options to offer them, but really it only makes sense if there is some equity.
Wholesaler · Mckinleyville, CA · Member since 2015 · 192 posts · 69 votes
10y
As long as the amount you offer is enough to cover what they owe on it there shouldn't be any issues. Escrow/title company will pay off their lender when the transaction closes.
If your offer isn't enough to cover what they owe on it, personally I would pass, because they would be taking a loss and I'm not sure how they would go about paying off the remaining balance to their lender.
Investor · Long Beach, CA · Member since 2015 · 201 posts · 29 votes
10y
Is it upside down? Did you run the numbers, the comps, etc? You may be able to do a sandwich lease-option, an equity sharing or just an option? If you want to wholesale, would it be for a fix and flip or a buy and hold or lease-option strategy? What the nbers are able to support is the first question . Let me know if you need help on that.