Pre Forclosure With Lots Of Equity
If a house is in pre forclosure and 2-300k equity , the seller wants to refi or get equity loan so they can list house and try to get top price, The home is worth maybe 6-700k. Offered to buy for 550k, the 1st mortgage is about 295k and 20k to reinstate, plus a 10k judgement recorded from AMX.
My question is do the sellers have options with that kind of equity and does a offer of 550k sound decent. how would I write this type of offer and how do I NEGOTIATE to pay less on the judgement?up
Seller has fico at about 490
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