Hello! First, from a Newbie…Thanks for all the information!!! This is a great forum!
We are working with a realtor that has given us a NOD listing. We would like to make some offers but we have a few questions.
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How much over what they owe do you offer?
Example:
Loan amt owed is$38,000; loan in default for 5 months
Property needs est. $10k in fix ups…this just by seeing the outside and assuming carpet, paint, plumbing. Dear hubby is great handy man, and I follow instructions well, so we’ll do most of the work.
Comps in area show how value about $200,000. -
Do you need the title search before the offer…or make it part of the contract that it needs to be clear?
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Have others had success with NODs? Any advise?
We really want to get into rehabs and flip properties, and also find rentals. -
What is the best appoarch in talking with the owners?
As I read more, I find myself coming up with a ton more questions, but for my first post, I’ll leave it at these!
Thanks for your input!