Posted by Michael Morrongiello on May 05, 2000 at 20:42:20:
You are working with the buyer who obviously is motivated to acquire a place of her own since she has no credit and that would be wonderful.
However most simulatneous closing transactions take place because the SELLERS are motivated and willing to be flexible in order to move their property NOW.
Find out if the sellers understand that by taking back a contract or a wrap around mortgage they still may be able to sell that mortgage and generate enough cash to pay off their existing debt and then some.
If they don’t want to play or are not comfortable then move on.