Short Sale/Subject To Deal
Hi, new here on Bigger Pockets.com. I am looking for someone interested in a JV deal with me. Here are the details.
I have a seller in the Richmond, VA area has 2 properties that are in pre-foreclosure at this time.
Seller owes 55K in mortgage payments.
Assessed retail value is $188K
Current Equity is $122K
4 Bdrm
2 Full Baths
1965 sq ft
Single Family
Built in 1958
Thank You,
Clinton
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
What does "seller owes 55k in mortgage payments" mean....that many Payments behind, plus the balance, or the total balance owed?
Why are you saying short sale, if you say there is equity?
Do you Know the total balances owed?
Find the real value, not "accessed retail".
I'm sensing a rabbit hole.