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 | Pros and Cons of Purchasing a Foreclosure Auction Property | | | There are many properties being offered at foreclosure auctions across the nation right now. Some are good investments and others are not.
Read More | | | How to Purchase a Fannie Mae Foreclosure Property | | | Purchasing a Fannie Mae property in my opinion is the easiest and best way to go right now if you are looking for a foreclosure property. Fannie Mae is government run.
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Property Details |
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| Property Information |
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| Project Name : |
Equity Rich Wholesale Property |
| Property Type : |
Single Family |
| City : |
Members Only |
| State : |
Alabama |
| Zip Code : |
Members Only |
| County : |
Members Only |
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| Square Footage (GLA/ GBA) : |
2217 |
| Lot Size : |
Members Only |
| Lot Attributes : |
Members Only |
| Measurement : |
Acres |
| Number Of Units : |
0 |
| Zoning Code : |
Members Only |
| Over All Property Condition : |
Good |
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| Property Description: |
| This is a brick one story house,fenced in, 2217 sq foot, 4 br, 1.5 bath, with a carport that was built in 1968. There are no liens on the title and the owners still reside at the property. They are wanting to relocate as soon as possible because of financial hardships but cannot due so without receiving money for the property. From my research, the property should appraise between 125k and 160k. The only repairs needed are minor such as restoring the hardwood floors as carpet was once put on top of it and the 2nd bathroom needs minor work. I currently have the property under contract to purchase at $80,000 plus closing costs. I would like to assign the contract to another investor and I'm only seeking a small assignment fee of $500. I have a private funder who will fund me 80% of the contract amount, however I'm not in a position to pay for small expenses yet such as an appraisal and closing costs. |
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| Surrounding Neighborhood: |
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| Purchase & Invesment Information |
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| Purchase Price : |
$80,000 |
| Investment Type : |
Contract Assignment |
| Investment Amount Needed: |
$500.00 |
| Equity offered to Equity Partner : |
0.00 |
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| Estimated Cash on Cash Return for Investor : |
Members Only |
| Contingency Expiration Date : |
Members Only |
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| Process Complete to Date: |
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 Members Only |
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| Why is the Property being Sold?: |
| Members Only |
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| Personal Invesment Details |
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| Will Seller Carry a Note : |
Yes |
| Rate : |
Members Only |
| Years Amortized : |
0.00 |
| Amount : |
$0.00 |
| Ballon Amount : |
$0.00 |
| Prepayment Penalty : |
$0.00 |
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| Familiarity with Property : |
Somewhat Familiar |
| Familiarity with Neighborhood : |
Not Familiar |
| Time Inveting in Realestate : |
Less Than 1 Year |
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Market rent / Vacncy Information(0) |
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Floor Plan / Site Plan (0) |
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