Posted by Tim Fierro (Tacoma, WA) on July 04, 2002 at 12:05:39:
Determine FMV of the property and days on the market first to see if this is possible. If the 200k is the FMV, how long is “just hasn’t sold”? If that time is longer than the average days on the market for that area, 200k may not be the FMV.
Work the numbers, and the days, as you don’t want to try to sell a property for $200k if it isn’t worth $200k or you will be wasting time and money.
Buy low, sell on contract? - Posted by Jessica
Posted by Jessica on July 03, 2002 at 14:56:25:
Hi folks,
I was wondering how I could help out a friend whose 200K house just hasn’t sold. What if I asked them what they would take (ideally 20% or lower, than SP) and then offered it for sale at the market rate with seller financing? The house is in great shape. Has anyone done this?
thanks for the feedback…
Also, I just went to Ed’s Lender’s Workshop in Atlanta. It was fantastic - I highly recommend it. It seemed like there were lots of folks there who were holding on to a bunch of properties with all their capital tied up and this was the info that broke the dam. There are plenty of projects out there - now I know how to find all the funding I need.
Happy 4th, Jessica in NM