6 thoughts on “Vacant House Gold: Striking a Deal with Sellers of Abandoned Homes

Cam, how do you calculate ARV after running the comp’s? I just purchased your 4-pillars and I’m excited again. Your direction please. Thanks

That is covered in detail in the program. I suggest you take the best/highest comp you can find and then if the subject property will be rehabbed mark that price up as much +/-10%. Why, because when a house undergoes a major rebab it’s worth more than comps in “average used” condition. This is especially true in a market where values are rising.

Hello Mr. Dunlap,
Will the end buyer only pay the assignment fee after title search or sometimes before?

I suggest you expect some of the assignment fee (as much as you can get) as a deposit and the balance to come at closing. If you’ve had a preliminary title check done, and the title was found to be clear and marketable (which is nearly always the case) and you have something in writing from them, the buyer will be more comfortable with putting up a larger deposit.

How often is there a cloud on title?

And, does that kill the deal?

Who pays to open title? Seller? Contract holder? End buyer?

Problems are rare but can happen. When it does it’s rare (at least in my experience) that it’s a deal killer. It’s the seller’s problem and will be solved by and covered by title insurance.

I suggest you the buyer submit your contract to your closing agent (assuming the seller is NOT insisting on using theirs) immediately upon ratification.

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