Posted by Nancy on July 15, 2003 at 19:59:37:
Thanks for responding so soon i really appreciate it.
a) The house is situated in southern massachusetts, and no it is not listed (at least the son-in-law did not mention this, I will have to ask)
b) The tenants say they can pay up to $2,000 per month (very high in my opinion)
c) Taxes and insurance are approximately $1,700 per year
d) When you say “gift of equity back to th buyer” do you mean seller-financing? If so, I am not sure as I have not even met the seller yet. But since he is the father in law he may consider it. the son-in-law did say though that the guy wants all cash. i guess it’s 50-50.
e) Why should I make the sales price higher?.. what is your train of thought here?
f) I don’t think it is on the market yet , but I will check. Why do you ask? is that relevant (for bargaining power?)
g) i also have not seen the house but i’ve looked at prices in the same area and this one is very cheap. Average house price is in the $270k’s, so perhaps it is not in good shape - or maybe he’s just doing his kids a favor.
Anyway, you have stirred new thoughts in my mind and I will pursue some of your questions. Perhaps i should even take a look at the house. The problem is i really don’t know what exact path to follow but you have been a tremendous help. I’d be grateful if you would continue to guide me as I have no mentor. I’m just going by what I read on creonline.
Ever so grateful !!!