I’m new to the Highest Bidder Sale strategy but I’ve been reading Jackie’s workbook and it seems great.
I market for motivated seller leads and I got one that isn’t super motivated in that their house is already renovated completely…they just don’t want to pay the realtor commissions / keep as much of the money as possible.
Before throwing this lead away, I did some research and came up with the strategy as a way to potentially help.
I think the comps of this property are around $264k and it was initially purchased for $220k. I’m not sure what the balance on the loan is.
Assuming I can get their agreement that selling with a realtor = ~6%, concessions/negotiations =~2%, and ~2% closing costs…they’d look to keep ~$232k.
If we made an agreement for the option price to buy of ~$240k and either I’d keep everything above that or we’d split it, would that work?? I got lost where we needed to make sure there was 30% equity in it.