yesterday I stopped by my old house, my neighbor is putting a "for sale by owner" on his lawn so I stopped by and talk.
The house in the neighborhood range from $150k-200k. His house worth at least $150k, needs new roof (3k), new carpet (3k), painting in&out ($4k), odds and ends ($5k max). So I'm looking at about $15k of work to get the house back to sale ready shape. He said he want quick sale, job moving him out of state. If I'm interested he can sale $110k to me. I don't need another house, but always looking for a deal.
I've bought two houses before and always go thru the realtors. So if I want to buy this house, how do I go about starting the process? He still owe $70k to his mortgage company. Thanks you for your advices.