Would This Be A Good Candidate For A SS?
I found a home in pre-foreclosure that goes up on the auction block in 2 weeks. The owners want some help to get out and have a loan for 150k that is up to date and a loan for 93k that is -26k in the whole. I plan to re-paint and re-carpet the house and then sell it. I have financing in place. Should I persue a SS on this one? Thanks!
What is the fair market value? Not knowing all the facts makes me leary of this. If you are getting a good deal and you are going to net 10% or better after you sell then I am all for it. Get a good market analysis done on this property if you have not done this already.
Good luck.
Where is your hardship?
nope, notta no way.
It cant happen.
My wifes a lawyer.
how can one get a list of properties in the early stages of foreclosure? from a bank? from a realtor? do they charge for this info?
SSPRO. So ... then what you are saying is to adjust the subject off of the 3 solds, just like an appraiser would do. And the result is what the lender would consider as the "AS-IS" market value - correct?? Then, if it were an FHA for example, I would look at 82% of that value-
correct??
Gene Texas