Posted by Michael on March 11, 2002 at 20:05:41:
Read the two part section about buying free and clear homes by David Finkel in the “How To” section. This should give you some insight on what to offer the sellers.
Michael, KY.
considering making offer - Posted by flo
Posted by flo on March 11, 2002 at 09:24:48:
I’m a new neighbour in this area,just here two years,houses range in the 100,000.00+, rents are 1400.00,monthly,thats what i’m paying at least.Some old folks down the street are considering giving up their house cause their getting to old to care for it any longer. House is owned free and clear. There asking 100,000.00 for the house. I want to lease option for 300.00 a month with intention of sub-leasing because I want a little bit of cash monthly: I haven’t done any research as to what the rents are, i’m only going by what I’m paying, but my house is much more executive than theirs ,. I would give them full price for their house, I would say the house would rent for,say, 700.00 a month; maybe, as an incentive for them, I might offer to arrange to cash them out at a specific time. I havent been talking to them as yet, only in saying I might be interested in buying the house, but the lady asked me in to give my opinion on the price, when she learned I was a real estate saleswoman(at one time). I know, it’s dreaming and it’s pretty early in the game, but am I nuts to even think such an offer, I don’t think so, I’m in Nfld Canada. By the way, full asking price is very good for ones house don’t ya think? I’m more interested in the terms; also, I’m a newbie whose jumping right in, sink or swim, no job, no savings(but some financial resources;none that a bank would look at though) I’m not planning on sinking, just figuring I’ll get looked at strangely, sometimes; I don’t want anyone, getting angry with me though;Getting angry in this situation,to me, is a waste of good time. My way of thinking is that each one should try and reach a workable mutual agreement;Oooooh, that we lived in a perfect world. I hope I’ve given you enough info to get some input. Flo