need ideas to buy… - Posted by Huey
Posted by Huey on June 22, 1999 at 24:06:36:
Hello all, forgive my ignorance. But this is the best place to pick your brain for a simple task I have here. Please help.
The seller is a married couple looking to move into a bigger house. They are selling their house themselves, so no realtor or broker is involve. They’re selling their house at $160K, a house across the street is selling at $170K with the help of a realtor. The other house did not have any upgrades in it.
I offered them a wraparound, paying them 10% interest for 10 years plus the down payment they need. Current mortgage rate is 7 3/4% for a 30 yr fixed. Their paying 6.5%. There is some equity in that house.
I want to know if there are any other ideas you can come up with that will help me make a deal more interesting and will benefit both the seller and myself.
Thanks a bunch.