Posted by Bert, Tx on November 01, 2003 at 10:48:29:
Ask to borrow the brokers commission, if he/she refuses then threaten to bring your buyers broker into the situation.
MY FIRST DEAL!!NEED HELP ASAP!! - Posted by jason
Posted by jason on October 07, 2003 at 12:32:52:
hey i got a question for you if you don’t mind… i just got in touch with this guy… he has a house for sale he needs to sell it because he is relocateing for his job the house is appraised at 125k and he only wants what he owes on which is 105 k and the cost of broker fees. can you give me any advice on what kinda deal i could put toghter here? the seller is really modivated… AND WANTS TO SELL ASAP. II’M ONLY 19 AND I DON’T HAVE REALLY ANY CASH TO DEAL WITH RIGHT ONW IS THERE ANY NO MONEY DOWN OR CREATIVE FINACING AVALIABLE HERE? ANY ADVICE IS GREATLY APPRECITAED, thanks jason
Re: MY FIRST DEAL!!NEED HELP ASAP!! - Posted by Ryan
Posted by Ryan on October 08, 2003 at 08:30:38:
Jason,
In this particular case I would purchase his property subject-to the existing mortgage. Basically you will take deed to the property and then assume responsibility for the loan. There are a number of documents you need to sign to cover yourself outside of just a warranty deed. Read up on the property way to purchase a property subject to the existing mortgage. This will avoid any loan qualification or down payment.