Need help selling Ohio house - Posted by Dave

Real Estate Investing
1

Posted by Randy on September 07, 2003 at 17:44:55:

Aside from the obvious L/O or Sub 2 you might consider Owner Financing. You would be offering a premium service for which you can ask a premium price. For example if the property appraises for $75k offer it for sale at $80k, low down payment (5%). Sell the 1st at a discount for cash.
Sales price = $80k
80% LTV = $64k New Note (subject to investor discount of 5%) = $60,800 cash
5% Down Payment = $4k ($60,800 + $4k=$64,800 cash at closing)
15% 2nd = $12k
Total precedes $76,800

If your buyer has decent credit its do able?

2

Need help selling Ohio house - Posted by Dave

Posted by Dave on September 07, 2003 at 17:10:43:

I have a house in Ohio worth $75,000. I need some ideas to help me sell it. I could take back 10% to 15% on a second mortgage if that would help. Any ideas would be helpful. Thanks.