Offering Price ?'s
prop info:
97k owed
owner filed BK
bene holding note/deed
rough estimates 30k for repairs to market (will get GC to confirm estimates)
Comps good @ 100 - 110k
here is ?
70% FMV - repairs = offer to bene?
I figure the house is about 70% livable, thats were I come up with 70%
Is this a fair offering price or do I offer LESS and put the ball in thier court for counter offer?
:-?
The owner owes 97K, needs 30K to repair and comps come in at 100 to 110k.
If you picked it up for 50k did 30k in repair that's 80 you have in it. take away some other costs 10k now you have 90 in with only 10 to 20k iffy profit. Still not a good deal is it?
If you miss this train at the station, not to worry, another will come along offering a better ride.