Updated about 14 years ago on . Most recent reply
Question on FSBO house? Possible Deal?
I just got off the phone with the seller of a house that is FSBO not listed on MLS. It was his Moms house who recently passed away and he wants to sell it to pay off his own house. It is a 3 bed 1.5 bath 1138sqft. New AC, copper pipe, and new exterior paint, with a pool according to him. Inside is way outdated and needs to be fully renovated. He will have the work done for a total asking price of 350k. If buyer wants it as is he said he will come down 30k or more. He said, "Whatever will make the deal work, Id like to sell it as fast as i can". The comps in the area seem to be selling for 350k to 370k according to Zillow. Although I will contact my Realtor friend who will look into it for me. I know according to these numbers I would have to get him to go significantly down in price in order to have a wholesale deal. My question is... Is there another type of deal here than a Wholesale deal? and What questions should I ask the seller? I am new to investing and I am really looking to lean from this more than anything, even if there is no deal here. Also Any local investors think they could make a deal work with this and want to take a look at the situation PM me.