equity sale

please people respond to my query. I tried looking under the search toolbar if this has already been discussed but I have not seen anyone mention it anywhere so far. What am I missing? Has this topic already been discussed?

I think this is just a home where the homeowner has some equity, so what are your rei investment strategies? Are you doing wholesale or short sales, or what. No reason not to see if this is a deal for you, work the numbers.

It's a 5+2 pool home listed at 350K. I want to do wholesales, assignments, and lease options for now. I think this is a great property but I'm not sure if an equity sale would accept a lowball offer coz I don't think equity sales are considered distressed properties or have motivated sellers. Thanks for the response. Yeah you're right I should run the numbers first, find comps, and liens.

Do equity sales have liens? They probably don't, right?

An equity sale is a home in foreclosure where the home owner has some equity. The thing about equity sales is that with the increase in foreclosures, more laws have been enacted to protect people in foreclosure. So you have to have all you i's dotted and t's crossed regarding the laws dealing with foreclosures with equity.

i searched around and it looks like it's not a foreclosure, last sale price was 52K back in the 90's and it was not an "arm's length transaction" meaning the buyer and the seller could have been relatives so it was sold at a discount.. comps are ranging from 330-400K but i couldn't find one with a pool.. I'm thinking of offering 27OK, it's only been on the market for 4days so we'll see. Thanks for the responses.

Ask your agent if it is a foreclosure.