Posted by Ed Garcia on January 09, 2001 at 18:52:20:
John,
Take the offers that are on the table. I assure you that brokers aren’t going to go in a biding war over this deal. Most mortgage brokers don’t even want a loan under $40,000.
Your offers are good, take them.
Ed Garcia
Details on How to Purchase! - Posted by John D. Moller II
Posted by John D. Moller II on January 09, 2001 at 12:23:40:
These are the details I was asked to provide.
The two properties in question are being purchased for 35,000 each. One property should appraise at $55,000+ (assessed value is $55620), the other should appraise at $40000+ (assessed value of $40000). I am going to live in the higher priced property and the other is rented for $500.00 per month. I am wanting to get into these at a good rate and with little down. I have bids of 8-9% 5years on the rental and 7.25% term on the owher occupied. Please offer any ideas you may have.
John moller II