Hello Friends,
I just got a call from a friend of mine who indicated that his rental mortgage banker is about to foreclose on his property. He has just listed it with a realtor and is asking about $240,000 (a duplex aorund yellowhead trail and 97 street). He wants me to buy it if possible. This is all the information i have at this time though I have scheduled to meet with him either on Sunday (11 Apr) or Monday (12 Apr) to get more info.
My question is how should I approach this potential deal/circumstance? Can we do a win-win deal and if possible how? Any ideas on possible scenarios to tackle this will be greatly appreciated. In the interim, I have asked him to suspend the MLS listing for a few days since he has just signed the contract and it`s yet to be activated.
Thanks a mil in advance!
Brendan
(780-242-4785)
I just got a call from a friend of mine who indicated that his rental mortgage banker is about to foreclose on his property. He has just listed it with a realtor and is asking about $240,000 (a duplex aorund yellowhead trail and 97 street). He wants me to buy it if possible. This is all the information i have at this time though I have scheduled to meet with him either on Sunday (11 Apr) or Monday (12 Apr) to get more info.
My question is how should I approach this potential deal/circumstance? Can we do a win-win deal and if possible how? Any ideas on possible scenarios to tackle this will be greatly appreciated. In the interim, I have asked him to suspend the MLS listing for a few days since he has just signed the contract and it`s yet to be activated.
Thanks a mil in advance!
Brendan
(780-242-4785)