Need some advice about one of my deals

Need some advice about one of my deals

Hello Everyone,

We need so help from the DG family, my partner and I have been working with a FSBO for about a month now and we are trying to help him sell his home. The issue we have is that he owes more than what it is (owes 72k but the market and comps says its worth around 35-45ish)worth. We suggested 2 options for him #1 take a cash sum of 45k close in 15 days or #2 lease w/ the option to purchase at 65k. He went with the first, so we drew up the contracts. We also suggested to him that a short sale might work in his current situation knowing that he owes more than what the property is worth. He decide to go that route, the bank was pretty fast about getting back to us so we were very excited to see that this deal might go through. The bank came back at 75k final offer we were like WHAT! final offer, what happen to a counter offer so we called the seller back to see if he wants to do the lease option, he said he will think about. My question is what can we do to still sell this home more than what the market says its worth? Should we just walk away and cut our loss(we didn't invest any money just time)or sell it at 77 or 79k and still make a profit. We know that the comps says that 35-45ish is the best deal in the area. What should we do.By the way their is a bee hive in the wall the cost to take it out and repair the wall is around 1k

Jason & Kelly


"I used to say, "Things cost too much." Then my teacher straightened me out on that by saying, "The problem isn't that things cost too much. The problem is that you can't afford it." That's when I finally understand that the problem wasn't "it" - the problem was "ME!"--Jim Rohn

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