Re: Need Offer Ideas - Posted by Bud Branstetter
Posted by Bud Branstetter on March 12, 1999 at 10:18:44:
On the first property you don’t say what FMV is or if there are any fix up costs. If the value is there you can do hard money or sell the note from the new buyers to fund the deal. You can always offer less but you have to know if they will take less. Are you the only one that is bidding?
On the second deal you are implying that the seller will finance 12K with 3K down. Why not do that and sell on a wrap for the 25K with 2-3K down.
Unless you are in a rural area where prices are low this range of prices do not attrach the most stable buyer. You may want to screen and try to sell to families.
If you intend on flipping a regular purchase contract with the closing date extended does just as well as anything else.