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Pros and Cons of Purchasing a Foreclosure Auction Property
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  Property Details  
Property Images
Property Information
Project Name : Equity Rich Wholesale Property
Property Type : Single Family
City : Members Only
State : Alabama
Zip Code : Members Only
County : Members Only
Square Footage (GLA/ GBA) : 2217
Lot Size : Members Only
Lot Attributes : Members Only
Measurement : Acres
Number Of Units : 0
Zoning Code : Members Only
Over All Property Condition : Good
Property Description:
This is a brick one story house,fenced in, 2217 sq foot, 4 br, 1.5 bath, with a carport that was built in 1968. There are no liens on the title and the owners still reside at the property. They are wanting to relocate as soon as possible because of financial hardships but cannot due so without receiving money for the property. From my research, the property should appraise between 125k and 160k. The only repairs needed are minor such as restoring the hardwood floors as carpet was once put on top of it and the 2nd bathroom needs minor work. I currently have the property under contract to purchase at $80,000 plus closing costs. I would like to assign the contract to another investor and I'm only seeking a small assignment fee of $500. I have a private funder who will fund me 80% of the contract amount, however I'm not in a position to pay for small expenses yet such as an appraisal and closing costs.
Surrounding Neighborhood:
Members Only
Purchase & Invesment Information
Purchase Price : $80,000
Investment Type : Contract Assignment
Investment Amount Needed: $500.00
Equity offered to Equity Partner : 0.00
Estimated Cash on Cash Return for Investor : Members Only
Contingency Expiration Date : Members Only
Process Complete to Date:  
  Members Only  
Why is the Property being Sold?:
Members Only
Personal Invesment Details
Will Seller Carry a Note : Yes
Rate : Members Only
Years Amortized : 0.00
Amount : $0.00
Ballon Amount : $0.00
Prepayment Penalty : $0.00
Familiarity with Property : Somewhat Familiar
Familiarity with Neighborhood : Not Familiar
Time Inveting in Realestate : Less Than 1 Year
Property Documents
Brochures / Flyer (0)   Market rent / Vacncy Information(0)
Demo Graphics (0)   Floor Plan / Site Plan (0)
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