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Updated about 18 years ago on . Most recent reply
NEED HELP for possible first wholesale deal!!!
I was driving around today and found a home with a UHAUL in the driveway and a handwritten sign on a tree that said "make an offer and this just might be your new home." This house was also listed with a realtor. So, I drove around the neighborhood looking for other homes for sale hoping to get a price range. I found 1; it was selling for$200,000. I then went home and looked at the city appraisals for properties in that neighborhood. The property I was interested in was appraised for 124,000. Other properties on that street were 150,000 - 180,000. I looked at the appraisal further and noticed that this property was in "poor" condition. In 2005 this same house was appraised for 165,000. I checked the realtor's website but this house wasn't listed. I've gathered that the home owner is relocating to another city and the appraisal for his new home is 215,000. I have no idea what to offer, PLEASE HELP! I'm hoping that I can stop by tomorrow and make an offer.
P.S. I'm hoping to wholesale this property and I know this is my first post but I've lurked for a while