Posted by SCook85 on October 26, 1998 at 22:17:56:
You never mentioned if the owner is going to finance the deal himself. I assume that he is if he is looking for $5k down. You say that you want to get your $5k back, but when you talk about your lowball offer and refinancing you seem to want a lot more than $5k back. You need to decide what you really want to do.
Do not get hooked on the property. You need to find a motivated seller which the one you are dealing with does not appear to be. Don’t get caught up trying to make a deal with someone who does not want to deal. Make an offer that works for you. If they don’t accept it, move on.