We have some great news on this deal. Now you can purchase this home “Subject-to” the current financing. Currently the payment is about $950/mth and go until Dec 2046. The interest rate is at 8.25% so this may be a great one to BRRR-(Buy, Renovate, Rent, Refinance). The home is Frame and block and is in north Brevard county in Mims. The house needs a full rehab but could be a great flip or buy and hold with the underlying financing in place. Not too many houses on the market close by and those that are are pending. The closest comp is 1000 sq ft, not updated but clean and is pending in 9 days at $139,000. Several other closed sales in the area over $200k.
To close, buyer would be paying all closing costs and set up fees for the land trust for the subject-to financing. The cash needed to close should be about $15k-$17k plus the cost to renovate.
Please call or text with questions.