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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Perhaps you've found it.. Posted by Leela on April 11, 2003 at 0:23 AM In Reply to: Perhaps you've found it.. posted by Ward-CA- on April 10, 2003 at 9:47 PM Hi ward, Thanks! You are so knowledgeable and willing to share. You're the best! I am a bit confused by a step you said Now with the FMV and all the liens in hand, go to page 10 in the handout and figure out the projected net equity in the property. Then divide that equity figure in half to see what a 50/50 deal on that property looks like. If it’s too small for you then pass, otherwise you need to arrange a face-to-face visit with the owner. Hypothetically, I did a price check on domania.com to find out what houses on that street were going for. $944,121! It says the approx bid is $47,821 and the 2nd loan amount of 35,000 has an asterick nxt to it, which I learned from calling County Records Research that the 2nd is the one that is going to foreclose (?) The first is for $520,000. Now I haven't done the title search but say the loan info is correct, I'd subtract 520,000+35,000= 555,000 from the domania estimate of $944,121 which gives me the sum 394,121. So then I divide that in half and get $197,060.50 How do I decide if this is too small for me? I'd then meet the owner and make an offer of $197,060.50? I'm still not sure. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Hi ward, : Thanks! You are so knowledgeable and willing to share. You're the best! : I am a bit confused by a step you said : Now with the FMV and all the liens in hand, go to page 10 in the handout and figure out the projected net equity in the property. Then divide that equity figure in half to see what a 50/50 deal on that property looks like. If it’s too small for you then pass, otherwise you need to arrange a face-to-face visit with the owner. : Hypothetically, I did a price check on domania.com to find out what houses on that street were going for. $944,121! It says the approx bid is $47,821 and the 2nd loan amount of 35,000 has an asterick nxt to it, which I learned from calling County Records Research that the 2nd is the one that is going to foreclose (?) The first is for $520,000. Now I haven't done the title search but say the loan info is correct, I'd subtract 520,000+35,000= 555,000 from the domania estimate of $944,121 which gives me the sum 394,121. So then I divide that in half and get $197,060.50 How do I decide if this is too small for me? I'd then meet the owner and make an offer of $197,060.50? I'm still not sure. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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