[Teresa]

Hi! My neighbor’s house has been on the market for about 10 months and he has it listed with a realtor. It’s been vacant The whole time. I believe he has it listed too high. It’s only about 12 yrs. old and I’m sure he still has a mortgage. What are my options? Is there any way I could help him?

[Carol Stinson]

Hi Theresa, I suggest contacting the agent to view the property, estimate repair costs then make an offer. You cant really contact the seller directly as they already know you and would most likely question your interest. It’s best to contact the agent as a “cash buyer” and not even tell them your the neighbor. Take a look at the property, run your numbers and make an offer.

[Carol Stinson]

I hope this was helpful.

[Jay St Hilaire]

Hi Teresa !! Welcome to The Den !! So glad you are here !!  My first thought is – does the realtor still have it listed or is it just still being marketed by realtor. Was the contract for 6 months ? Or 1 yr ? Or longer. In my area 6 months is the norm. I agree with Carol and I also like to look at it from another angle. Depending on how you would like to help them. Are you interested in buying it or are you interested in finding a wholesale buyer or maybe a different strategy. I would need to know more of your idea of how you would like to help them. What position are you in to help them. What are your thoughts on it if I was to ask you how you could help them ? 

[Teresa]

Hi Jay & Carol. Yes; it’s still listed by the real estate agent and has been listed for 286 days. It’s listed at $195k.. its a 3 bed, 2 1/2 bath. I think it needs some new flooring and the fence needs to be redone. I don’t have the money to buy it and I don’t think I can wholesale it unless he comes down to about $130k. I know the owner because he used to be my neighbor and then he started renting it out. I think he’s just tired of being a landlord. It’s possible that there is a lien on the house because he hasn’t been paying the HOA dues. Someone mentioned that I might try owner financing it, but I don’t know how that works. 

Carol, the agent will probably recognize me because i walked right past her one time when she was showing the house to someone else. 

Please advise. Thanks!

Teresa

[Jay St Hilaire]

teresa check out the library and there will be a video explaining owner financing.if you have more questions after watching please ask and i will gladly help 

[Jay St Hilaire]

definitely check with the proper agency at your gov services to see what if any liens or judgements first  do not rely on hearsay  trust but verify 🙂

[Carol Stinson]

Also call a different agent if the listing agent will know who you are, you don’t have to use the listing agent.