Posted by Benja on May 03, 2006 at 17:54:16:
Yes, I agree. Well, as a follow-up, I found out that the seller was looking to get $300K out of the deal AFTER all expenses were taken care of. Also, this property is a rental that they are looking to 1031 exchange for another rental property closer to where they live (this is an out-of-state owner) in about 6 months, so there isn’t much motivation. The house had $30K of remodeling done to it about 2 years ago, so it’s not a property that they couldn’t list and get close to what they’re looking for. Basically, there is no deal here, but the cool thing about talking to the seller is that this was the first time I actually had the opportunity to respond to someone off an ad of mine - great experience.