Found A FSBO,now What
A FSBO is on the mkt for $84000. 2br, 1bth, bsmnt, garage. 1000 sq ft w/o bsmnt. Not sure if encumbered. got comps LO 70s to HI 80s . Assesesd value $28000 x 3 = $64000.Do assesed values hold weight in determining price or fmv. Havent talked to owner yet nor entered property.Whats the next step? How do I figure out if hes motivated or not?
thanks
[ Edited by newbalance577 on Date 07/18/2005 ]
[ Edited by newbalance577 on Date 07/18/2005 ]
[ Edited by newbalance577 on Date 07/18/2005 ][ Edited by newbalance577 on Date 07/18/2005 ]
to access tax record and info on the deed, do you have to go to the court house or is the information available online?
Tax records are usually online call and see if they have a webpage.
Sounds pretty good. Just run everything by a competent real estate lawyer. I would consider asking him to draft the agreement in this case. Get the buyer to pay for it.
-JohnCl
I could buy your house in 48 hrs or less. Tell my title guy to do the check, it comes back good, then just subject to the property.
What I do is take a hot area and look within a hour of it north , south , east or west. The closer the better in general.
All these areas are very close together way less than an hour.
By "forced to refi" he might mean that he needs the cash from the refi for whatever purpose. Holding for 3 yrs is always negotiable. Not every lender is going to attach a 3 yr prepay. If he sells, he gets the cash he needs without refi. A wholesale might work great or just sell the house yourself on an "assign" clause.
Thanks -- that makes sense.
The home was recently updated in an iffy part of town, but home values are on the up swing here. Seller needs to close by the end of August so may try to assign it.
update: just recieved copy of recent appraisal, which was for $140. Dead deal in my oppinion unless seller renegotiates for lower price.[ Edited by dombrorj on Date 07/28/2005 ]