OfflineAlthough I have been a DG student for quite some time, and do quite a bit of reading, this is my very time posting on the forum and any help, advice and suggestion would be greatly appreciated.
Meeting an exp. listing seller on Thurs. House was listed for $124,900 - but comping between $105,000-$110,000. (House next door also up for sale - was listed at $129,900 a few months ago, now listed at $119,900).
Owner is older lady, lives alone, wants to downsize and move to a condo. Paid $130,000 in 2005. Still owes $79,000. Wants to get her equity out which she erroneously thinks is $50,000 and which of course eliminate the possibility of a cash offer.
Is there a deal to be made? If yes can you please help me structure it in a way that's a win-win for all parties.
Thanks so much in advance.
Ellie
she becomes part of the real Earth. It is too bad that these things happen to older Americans, but it does. If it got down to around a $100K, you could do a L/O but that may not work in her situation if she needs the cash for her next residence.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Thanks Bill. That's what I thought. Although I think that with the facts I can get her to settle on $100k. I guess the question now would be to find out if she absolutely needs the money in order to get to her new place. If that's the case, then I am afraid she's stuck with the house. If not perhaps I can do that lease option or assign my contract to an end buyer looking for an owner-financed home. I was hoping there might be some miraculous way on getting this one resolved, I guess not.
Thanks again.
Indeed.