Posted by David Alexander on March 09, 1999 at 20:46:06:
I think, this is open to discussion that you would need a third party and get the house under contract for 300k. Then the third party would sell for 329k or whatever. Is the property listed? Is it still a pocket listing? What about your Broker?
David Alexander
John Behle, Help Me Find The Trees. The Forest Is To Thick !!! - Posted by Paris
Posted by Paris on March 09, 1999 at 19:32:11:
John, I know there is a way,but I am quit not clear on how I need go about it.
I, as a Realtor picked up a listing with a new builder. I have been after him for a while. I promised him I could get this home sold in 3 months.
Here are the numbers. Listed at 329k,appraised by bank for construction loan for 319k. The builder will not complete the project for another 10-12 weeks.
I believe if I can get a good contract for 300k he would accept it.
My question is,since I bascally have 29k of negotation spread as of this posting, would there be some sorta way to perhaps create a second to get my builder as much as possible. For example if I recieve an offer of 305k. Would there be a way for the seller to create a second for say 20k over 5 years. Knowing he would accept 300k or more makes it a good deal for the builder to begin with. But if I could get the extra 20k for him secured by the home, I think it would tie me in very solidly with this builder.
Then I was thinking since I just got him an extra 20k, perhaps I could be a nice guy and buy it off of him, say at a discount for 5k. I could use some my commission for this note purchase causing instant cash flow for me. 8^)
After the convention there are all too many idea’s bouncing around up stairs. John help me see the trees please!!!
Thanks Paris n Baton Rouge