Immediate Responses Needed -House Going On Auction
Hello Folks,
I need your help Pronto! There is a guy who's house is going on a public auction the 30th of this month. It is in good condition and he would like to sell it ASAP. All though I have learned a lot I am blanking out on important questions that I will need to ask him and the specifics on how I need to get this job completed. Please do not leave without leaving a response I really need to know all he detail right now. And please do not say that I should read a book I have tons I am just get the first deal jitters. Please Help Now! Thanks, you guys are Spectacular!
Find out the total amount owed, reinstatement amount, if there are any other liens, taxes owed. Based on this information and the FMV you will need to figure out if there is any equity. If there is enough equity to do a deal, find out how much money he would need to walk away. If there is not enough equity, there might be a possibility of short sale. [ Edited by reinatalie on Date 10/18/2004 ]
He said that his equity is his busines and that I am getting to personal. I told him that NOT one investor in the whole wide world would purchase a property without this information. He said taht he doesn't understand what that has to do with anything. After awhile he told me $117,000. But the house was never appraised. I told him that I am looking for a motivated seller and that I do not have time to pull teeth. I said I am a problem solver and if he does no have a problem I can not help him. He still seems very interested. I'll let you know how it turns out. Thanks.