Hi. I just got a response back on an ugly vacant house that I sent a letter of interest to. As I said, the house is vacant and looks in bad shape so I was interested in wholesaling. The response back to me from the owner is that he is interested in any offers (GREAT!) but the house is scheduled to be demolished and his original intent was to rebuild. He added that he will entertain any offers. I just don’t understand what to do with this. Do I consider it a lot when the house is gone or do I discourage him from demolishing or should I walk away. Any suggestions would help.
It depends on the area…is it a transitional area with other new construction around or no? Do you have a ballpark figure of how much he wants for the property? If it’s that bad, then of course it will have to be for lot value. If there is other new construction in the area I’d contact the builders and see what they pay per sq ft and see if you can negotiate accordingly. Hope this is along the lines of what you were looking for. Good luck!