Well I have deal #1 on my plate right now.It is a FSBO about 3 houses from my mom's house where I grew up.Here's the details.
Counter offer:$49,701= payoff+closing costs
I intend on offering it at:$56,000
Totalview:$109,000 but I know this will be too high as the house next door sold 10 months ago for $93,000 and it is larger,has another bedroom and a basement.
I know the lady who owns it and her son who is renting the home but we are not friends or anything.She is willing to just take payoff plus closing and walk away.Fear has been holding me back i think so I just put myself in a situation where I had to take some form of action and giving up is not an option.So with that said I am concerned about earnest money but think she will be ok with earnest money at closing/in two weeks or a small amount that maybe I can come up with.
My biggest concern is closing.I know what the process does but have no Idea what I am supposed to do other than submit my contracts to the title company.I will be signing the contracts this weekend and start marketing to my buyers list etc.I am not sure what to do after that besides assigning the contract or setting up a double close which I am not sure how to do that.
So I would love any input you have on this deal and any advise or direction as far as closing goes.Also do you guys and gals think this is a good deal?Thanks everyone and best of luck to you all!!!!
"Every failure brings with it the seed of an equivalent success"