Hello,
I’m currently looking at a cape cod 3/2 in a nice neighborhood, the owner has walked and listing agent says the bank would likely be open to a short sale per his inside source. I currently don’t have any details on mortgage situation.
The agent says an offer of 75-85k might be accepted, the ARV is a solid 175K min. My GC estimates about 25k for repairs, I think it’s going to be more around 35-40k and budgeting over just in case. There will be very little holding cost as I’m paying cash and self financing the repairs.
I new to this, but I think the numbers look good, but want to get others thoughts… also any advice on shortsales and taxes welcome on this. Let me know if I left out any info needed.