Here's the deal - Posted by Mark Vidales

Posted by Mark Vidales on March 19, 2000 at 14:09:11:

yes! that is exactly what he said. He knows the value is there but just wants out. Although I made kind of a boo boo. I thought his house was the house next door to one of the houses on his block. Big difference in appearance. OOPS!.. well I still think I can get something close to that price anyway.

Here’s the deal - Posted by Mark Vidales

Posted by Mark Vidales on March 17, 2000 at 23:59:52:

O.K. as a realtor( I have a full time job too) a guy I work with wanted a market analysis done on his property that he rents out (he used to live in it but now rents it out) anyway I gave him the
comparables thinking I would list it soon. Well he says “are you interested in buying it?” I say well what ya got in mind he says $150,000.00 I say what? I know I could sell this thing for $170,000.00 in about 30 days max it is a sellers market here where I live and the house is in excellent shape shows well etc…

anyway I want to tie it up on contract, put it into escrow and then market the property for $170,000.00 and do a simultaneous closing.

Is there a better or easier way to sell this?



Re: Here’s the deal - Posted by Warner(Atl)

Posted by Warner(Atl) on March 18, 2000 at 02:32:02:


If you can sell this in thirty days, then I do not think it can get any easier than what you’ve described.

However, your situation can potentially cause problems if the seller is not aware of what your doing. This exact situation is why many investors do not get licensed. As a licensed real estate professional you are technically supposed to tell the seller how much his property is worth and that you are buying below value (ouch!). If he is aware of this, then sounds like you stand to make a quick 20K.

Good Luck

Re: Here’s the deal - Posted by Sally

Posted by Sally on March 18, 2000 at 09:01:00:

He may be agreeing to sell at $20k under because that is what he would have to pay in broker’s fees and additonal inspections, closing costs, etc. He could also want to reduce his selling price for tax reasons if he isn’t rolling over into another home.