All Forum Posts by: Jim Viens

I actually found some good comps on the county appraiser's website and saved the PDF to provide him. Hopefully that will be sufficient.

How do you approach a potential seller when you know you have to tell them their house is only worth about 2/3 what the Zestimate is even once it's rehabbed? The guy wants "30k FIRM" for the property saying it's worth $78k on Zillow...but the few comps I've looked at in the area only support an ARV of about $45k (and even that may be a little generous). Do I just give him the straight numbers and explain to him that Zillow is NOT the best barometer for market prices then make the low-ball offer even though it may tick him off? Realistically I'd only be able to give him about half of what he's asking but it seems like they're pretty desperate to move (as in they won't even have the money to move until the property sells). Thanks.

I don't see why you can't do it like any other wholesale deal. Contract the property and assign it to your buddy fo an agreed upon fee.

I'm just getting started wholesaling. I'll add you to my buyer's list. What kinds of properties are you looking to buy and what areas?

They have it on Amazon. Picked up the Kindle version for less than $20. Working my way through it now.

Good call @Steve Babiak. I've been out of the title business for 5 or 6 years now and I'm starting to get a little rusty. :)

@Dave Comer In my experience that's usually how it goes. Whoever gets awarded the property gets the mortgage. The other spouse has to execute a Quit Claim Deed and, lastly, the spouse with the property usually has to refinance within a certain period of time to get the other spouse's name off the mortgage (to protect their credit in the event of a default.) Looks like she just never did the refi. If she's stayed current on the payments she should have it paid down to about $85-90k.

That's a possibility, or if you know someone with access to the PACER system they can look up the case. If you don't know someone already, again your title company should have access. They may/may not charge you for the info. You might be able to get them to throw it into the O&E report if you ask "pretty please." :)

Have a local title company do what's called an O&E report. It'll show the last deed filed of record along with the taxes and all other outstanding liens. Should only run you $25-$50.

Not positive about NC, but in KS separation agreements don't mean squat to a title insurance company...the spouse still has marital interest in any property you own until the divorce is FINAL. I'd play is safe and hold off until this is all done and filed in the courts.