NEW HOUSE FORCLOSED ON
Have a house down the street from me that a vacant foreclosure. Its bank price is
115K. Its last sale price was 135k months ago. I dont have the fico scores to qualify for a loan. Are there any investors who are interested?
More info is needed to determine whether or not this is a good deal. How fast are houses moving in your area? How long has the bank had this property? I presume when you say the bank price is $115k that it is listed on MLS so that yuu should be able to find that out. Does the house need any repairs? Once empty even new houses can be victim of vandalism. There is only $20k of equity and closing costs will take a chunk of that because banks usually try to prevent an assignment (although it can be done sometimes) so the margin for you and another person trying to squeeze some thing out of it is relatively small. Still there may be something there if you could definitley sell it very quickly (i.e. had a solid retail buyers list and/ or a RE agent who you trust to bring a buyer in fast) and foun a cash investor. Best of luck!
KP Verow McLaughlin
AZNewguy
If you have access to the owner and they are willing to work with you, I'd be interested in helping you with negotiations, but I would have to discuss the matter in greater detail with you.
Please email me @ sirepselak@aol.com and we can get into the particulars of Lis Pendens, reinstatement period before the Sherriff auction in AZ, ... and more ....
Let me know either way if interested.
OMISteve
Havent ben able to find anything yet. I'll keep trying, if I do will let you know...