We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
December 02, 2022, 11:37:50 am
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
December 02, 2022, 11:37:50 am
Home Help Search Calendar Login Register

Author Topic: Would you do this deal? a.k.a. Do the numbers work?  (Read 3034 times)

Offline Starhawk

  • Member
  • *
  • Posts: 4
Would you do this deal? a.k.a. Do the numbers work?
« on: May 22, 2006, 07:34:28 pm »
Hi guys,

Im working on a deal now where

Payoff amount is $191,856
Zillow says the house's value is $205, 800


House was appraised for a re-finance and came in at $215,000 in November of 2004. I am planning on getting comps done on the property tomorrow.

Home is in decent shape. Built in 1978. Could use a little work but not bad. (Although I am very new and have no idea what Im talking about here ;) Planning on having an inspection done if the initial numbers indicate moving forward on the deal.

Right now the auction date is 7/12/06. The house is in NC.


My first questions are If the above numbers are correct, is this a good candidate for a short sale? Do I have enough time? If not, should I move try to get an extension?

Thank you for any help or guidence!

Offline trump21

  • Member
  • *
  • Posts: 27
Re:Would you do this deal? a.k.a. Do the numbers work?
« Reply #1 on: May 22, 2006, 08:31:45 pm »
This deal to me looks good, if you are able to do the short sale, do it. you have the time to do that. Have you ever done a short sale before?

Offline Starhawk

  • Member
  • *
  • Posts: 4
Re:Would you do this deal? a.k.a. Do the numbers work?
« Reply #2 on: May 22, 2006, 10:42:04 pm »
This would be my first, and I am very ready to take on the challenge! Im getting the comps done tomorrow, and after that I will probably start the ball rolling with the short sale paperwork, if like you say, there is still enough time.

I was also thinking we could file an extension if needed as well.

 




SMF 2.0.15 | SMF © 2017, Simple Machines