First Deal help

So I found some comps that were in very close to the home I was looking at. These were sold recently.

***See below for comps***

This house is 3 bedroom 1 bath up and 3 bedroom 1 3/4 bath down with aditional space. 1872 square foot total. It does have some pretty ok ammenities. So Im curious if I were to break this down and use a median of $250,000 which was acutally sugguested by the realator so I guess I'll need a little help with my offer.

Thanks!!

i'm trying to HELP you, but your......whats the friggin' Bottom Line here? What the H$#@ does Vermont mean? Tax Assessed Value? Is the property your looking at a 3BR 1BA 1872sq.ft.? cause you have 2 seperate figures there, you know what i'm getting more and more frustrated as i try and desieffer your posts, there VERY CONFUSING, i'm sorry, SULLY

Sorry for the confusion on the comps. Vermont is the state where I live and essex is town where the properties were sold. Let me try to fix it. These are the average dollar amounts on a 3 bed 2 bath raisd ranch style homes that have been sold. So we figured an average of $253,000 being in place with the house as an average joe rehabs. Although the realtor is saying I shouldnt go much less than $180,000 but the only reason I think she's saying that is because she wants to make the commssion. I was thinking maybe between $160-$170. Because the house needs a min of $50,000-$60,000 rehab to be that "Cream Puff" but could sell for $270-$280

(DOM) Day's on market

List Sell $ DOM
$269,000 $260,000 51
$259,900 $259,000 270
$259,900 $250,000 132
$253,000 $253,000 9
$249,900 $245,000 172

Bed Bath Acres List sell DOM
Average 3.20 2.20 0.56 $258,340 $253,400 127

Yeah, i think you should be just fine @ offering $160,000 on this propery, just remember that you always want to think WORST CASE SENARIOS, like you have the REHAB estimates between $50,000-$60,000, Figure on $60,000 for your REHAB costs and your selling price @ $260,000(anything over that is "butter"), and if you still stand to make a handsome profit(which it looks as if you will) then most likley your profit will be even more than you originally calculated, SULLY

Bernie, Do you have your financing in place yet, and what type of financing will it be?? I am assuming that you have a buyer already lined up, right?....Jan

Well I want to assign the deal to another investor but I want to lock it under contract before I decide to let them know for fear that they will snap it up from under me.

As long as you have it locked up on a contract, I am pretty much sure that they can't snatchit from you. CBR is real good at these and Sully is a walking REI encyclopedia. But I think your safe...Jan

Well I think I will make the offer at $160,000. So how can I figure in the other deductions? It's agent listed which means she gets a commission, also closing fee's. Just want to make sure things are in order before I submit it.

The seller will pay all RE agent fees. Get with a Title Co. to see what their fees are. The Title Co should be able to estimate taxes, insurance, and transfer fees. The loan fees would be the responsibility of the end buyer to figure out. Your Agent should have a pretty good idea of what closing costs are in your area if you don't want to contact a Title Co..

Good Luck, Al

I just finished the book. Unfortunately, I am currently unemployed, no money, bad credit. Although I have read the book, I still don't know where to start. Tomorrow morning I am heading to the Courthouse to try and find out what is the easiest way to get Foreclosure Notices as they come in. I am thinking my next step would probably to look for an Investor since I do not have any money. Am I correct or am I just getting ahead of myselt. I am very nervous about this.

Can anyone give me an idea where to start.

Thanks,
Janie