My First Subject To Deal!
I got a contract yesterday and will close on tuesday. house built in 2002, owner wants out after staying in the house for 10 months. here are the figures: FMV: 158-162K (builder's price as of May 2004, same model is 168800 but offers incentives/upgrades) loan bal: 151k current on mortgages monthly PI+PMI :$1011 no repair needed (except a few nail holes on walls where pictures were hung) To Sell: no qual 6k down min balance at 8.5-9% (monthly pack about $300) 170-175K ad will run something like this: Eagle Pointe NO QUALIFYING 3 bd/2ba/2ga/ 2yo house very nice, new master- planned subd golf course 175K down payment required. almost 1700sf per tax owner 555-1111 i dont know exactly how to advertise it.. I'm thinking of just copy what's on the paper. any suggestion on this will be greatly appreciated. i'm starting to believe this is happening!
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Make sure of your appreciation and month is not to high. In my area the numbers would look good but check your own area. Looks like you have a DEAL. Best to you.
Sire
sire,
appreciation is about flat for the past 2 years. have to check with monthly and would adjust the price and the rate.
thanks.
What exactly is your exit strategy?
Are you selling via lease option? Land contract/owner financing?
I don't think flipping the property is going to be very profitable with closing costs, holding, etc.
What does it appraise for?
Good luck and congrats! - Dave