Posted by Stacy (AZ) on January 16, 1999 at 20:28:24:
What’s next? Once you know true FMV, you must be sure about fix-up costs. Then you have the variables to work the formula.
FMV - ($10K to $15K for the rehabber’s profit) - (fix-up costs) - (your profit) = the maximum you can accept.
For example, if the rehabbers in your area will probably do a deal for $10K profit:
$75K - $10K - $8K - $3K = $54K maximum.
Now, if you can get it for $51K, you may be able to get around a $5K assignmet fee.