- Joined
- Jan 14, 2008
- Messages
- 1
Brampton house at $55,000 off of fair market value...
79 Forest...pdf (589.9 KB)
Is anyone interested in a great deal ?
I have a property under contract in Brampton Ontario located at 79 Forest Grove Circle.
The home is 2-storey, 3 bedrooms, 3 bathrooms with a garage on a front drive, built in 2004, it has over 1000 sq. ft. plus the basement.
The property is vacant, needs some work to renovate, and can be re-sold at Fair Market Value.
The property was listed for $344,900
The property is under contract for $325,000
The deposit is $5000 with the Real Estate Company.
The inspection report is attached for your review. Upon review you will notice that there is not much to do other than paint, new flooring, and possibly replace the AC unit.
I estimate the repair costs to be about $10,000.
I am looking to ASSIGN the property to someone for $345,000 (this includes the deposit).
Once the property is renovated, it should sell for Fair Market Value of about $405,000
So, one can purchase for $345K, spend $10K to reno, and sell for $405K, making about $50K (if sold by owner).
Its a great deal, and the reason that I am not doing it is that I live in Calgary, and my Dad and I are involved in a few other deals right now, so it is too much to handle being in Toronto area.
I just do not have the time right now, with the travel involved.
The closing date is May 2, 2008. So there is time to get financing in place.
I do know someone who is willing to act as the Renovation Co-ordinator to help get the trades in/out quickly. (If one needs help).
He is looking for a fee of about $5000 to ensure that the work is completed well, and quickly so that the property can be available for resale immediately.
Let me know if you are interested, and I can send you the Purchase & Sale Agreement for review.
Hope all is well with everyone, and you are making deals.
Cheers,
Shawn Spicer
403.464.5678
79 Forest...pdf (589.9 KB)
Is anyone interested in a great deal ?
I have a property under contract in Brampton Ontario located at 79 Forest Grove Circle.
The home is 2-storey, 3 bedrooms, 3 bathrooms with a garage on a front drive, built in 2004, it has over 1000 sq. ft. plus the basement.
The property is vacant, needs some work to renovate, and can be re-sold at Fair Market Value.
The property was listed for $344,900
The property is under contract for $325,000
The deposit is $5000 with the Real Estate Company.
The inspection report is attached for your review. Upon review you will notice that there is not much to do other than paint, new flooring, and possibly replace the AC unit.
I estimate the repair costs to be about $10,000.
I am looking to ASSIGN the property to someone for $345,000 (this includes the deposit).
Once the property is renovated, it should sell for Fair Market Value of about $405,000
So, one can purchase for $345K, spend $10K to reno, and sell for $405K, making about $50K (if sold by owner).
Its a great deal, and the reason that I am not doing it is that I live in Calgary, and my Dad and I are involved in a few other deals right now, so it is too much to handle being in Toronto area.
I just do not have the time right now, with the travel involved.
The closing date is May 2, 2008. So there is time to get financing in place.
I do know someone who is willing to act as the Renovation Co-ordinator to help get the trades in/out quickly. (If one needs help).
He is looking for a fee of about $5000 to ensure that the work is completed well, and quickly so that the property can be available for resale immediately.
Let me know if you are interested, and I can send you the Purchase & Sale Agreement for review.
Hope all is well with everyone, and you are making deals.
Cheers,
Shawn Spicer
403.464.5678