Help with Free and clear House - Posted by Brian SC

import · April 27, 2000, 8:21pm

Posted by Brian SC on April 28, 2000 at 19:40:32:

Thanks for the reply CurtNY I’ll let you know how things turn out.

import · April 27, 2000, 8:21pm

Posted by Brian SC on April 27, 2000 at 20:21:48:

What to do, I haven’t done a deal yet. Owner trying to sell his house for $ 190,000 couldn’t sell so he dropped to $ 174,000. This house is free and clear. He built it and its 3 yrs old. 2784 sq ft on golf course at 2nd Tee. The subdivision has houses from 90,000 to $275,000. A house just built by him but not on golf course and smaller for $ 185,000. He hasn’t had it appraised yet. Must move out of state. Will do owner finance 20,000 to 25,000 down 7% to 8% interest only payments for 5yrs with balloon but said that he would probably go longer after 5yrs.

Any help would be greatly appreciated.

Thanks,

Brian SC

import · April 28, 2000, 1:49pm

Re: Help with Free and clear House - Posted by CurtNY

Posted by CurtNY on April 28, 2000 at 13:49:21:

Will he consider a lease option? If not get it under contract like yesterday, then flip it to an end user. Offer owner financing, at closing have them (your buyer) bring the money for the down payment and wrap the first mortgage. Good Luck!

CurtNY