Okay, so my agent got the inside scoop on a pre-foreclosure that's a FSBO and the woman that works at the bank told him they'd take 150K CASH. It's a beautiful neighborhood and my agent pulled some recent comps within 9 months: 290-325K. I'm going to take a look tomorrow. I saw the outside and it looks fine. Some cosmetic improvements can be made, but nothing crazy. How do I determine how much work it needs. I'm obviously not a contractor.
Also, the only member on my power team besides the buyers is my real estate agent. What needs to be in place to make this deal happen? I will assign the contract. After seeing the house and getting the repair estimate, I will make an offer. The woman at the bank said it must be cash.