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Hi, I have a seller located in another state that wants to sell their house. The property is valued at $43,500 and seller is asking $21,500. What is the best way for me to handle this and get the house sold for the seller, since I’m located long distance from this seller and unable to show? Thanks, Nick
HI Nick
There are a couple of ways you can handle this:
1. You an assign your contract to a local investor who lives in the area. This is the easiest solution.
2. You can team up with a local investor to show the house, put for sale signs out, get the house under contract and get the contract to a title company — then split profits or pay them a flat fee. You’ll need to see proof of funds for your buyer. The buyer will probably want to do an inspection or get their contractor over to the house to estimate repair costs. Your local contact needs to be at the house when they do this. You do NOT want to get in to a situation where you have a contract, then the person you sell it to is really trying to wholesale the property again (daisy chain) — make this perfectly clear.
3. You could work with a local real estate agent to show the house for you, get the contract, and get the contract to a title company – for a flat fee or split profits.
But, before you rush in to selling the house, you need to get someone to take a lot of current pics on the inside and outside of the house to send to you. This deal appears to be way below market. But if the house needs substantial repairs, your contract price is not low enough.
Let us know how it goes!
Jackie
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