Newbe needs advice plesae help - Posted by Billy Gaines

Posted by Stacy (AZ) on February 21, 1999 at 15:28:18:

The approach I would take would be to ask him to allow you to make the $3K downpayment over time. Ask him if he would be willing to allow you 24 months to pay the downpayment, at zero percent interest. Negotiate from there if he won’t accept that. Would he be willing to go 12 months? Or 6% interest only payments with a balloon at 24 months? How about 12% interest only with a balloon in 12 months? Negotiate. If you can come-up with at least two scenarios to present to him, and allow him to pick which one he wants, your chances are better. Of course one of those options could be zero down.

Good luck-


Newbe needs advice plesae help - Posted by Billy Gaines

Posted by Billy Gaines on February 21, 1999 at 15:09:49:

I found Creonline 4 days ago I will be back every day it’s a great place.
This is my first deal: situation seller will fin with
3000 Dn. Price is 34,900 fin over 30 yrs. @ 9% with a balloonat 10 yrs. How can I present an offer where I can do better possible 0 Dn. The seller is motivated but asking for & getting 0 dn. deal will be achallenge because he has sold this once before & the buyer reck the place & walked leaving the seller holding the bag. Any advice,Idea,or help would be greatly appreciated
thanks in advanced
Billy G.

a few questions - Posted by David S

Posted by David S on February 21, 1999 at 17:44:01:

  1. what is your purpose for wanting the property?

  2. what is the property worth?

  3. what are market rents?