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There is a 2/2 double-wide with an acre in my area listed with a Realtor for sale at $89,500. It is vacant and the yard is grown up, and the owner lives out of state. The house is 15 years old with the original roof and heat pump that are now at the end of their natural lives and will soon need to be replaced. There is no existing mortgage. I am looking for suggestions as to what kind of offer to make. Thanks.
Thanks Jackie. If I can buy this house on payments to the seller I will rent the house, if the payments are low enough, sell it on a wrap, or assign the deal to someone. If they insist on some cash, I thought I might offer some cash now and some later(8-10 years later if possible). But I don’t want to get a bank loan, so if they want some cash, I figured I would try to get a contract signed and then try to find someone to assign the deal to.
Yes, it is high. Too high. The property is not worth what they are asking. You have to have cash to buy the HUD houses, and I don’t have any. Do you think I might find a money partner if I ran an ad that offered to sell a half interest in the house? (not this house, an REO) How would you word the ad, if you didn’t have a particular property in mind?
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