Posted by Tony K. on February 27, 2001 at 21:16:56:
RELAX with the capital letters. Don’t yell!!! That is what you are doing with the capital letters.
Now to your question. See if the owner will take the downpayment over a period of time(36-48 months). Hey longshot but it might work, and don;t forget to turn off your capital letters. Good luck
NON-OWNER FINANCING - Posted by KEN
Posted by KEN on February 27, 2001 at 20:59:40:
I RECENTLY SPOKE WITH A RE AGENT ABOUT A 14 UNIT COMPLEX THAT HE HAD LISTED. THE OUT OF TOWN OWNER REFUSED TO FINANCE (PER THE AGENT). MY QUESTION IS THIS- SHOULD I STILL MAKE MY OFFER TO INCLUDE OWNER FINANCING AND HOPE THE AGENT SUBMITS IT TO HIS CLIENT OR FORGET ABOUT IT AND MOVE ON TO MORE RECEPTIVE OWNERS?
Re: NON-OWNER FINANCING - Posted by Brent_IL
Posted by Brent_IL on February 27, 2001 at 21:37:14:
Tell the agent the offer is split-funded. Try to get the owner to re-fi for the cash he needs. Maybe a second, and a third (straight note, no payment?) from you, with you making all monthly payments. Never again refer to owner financing with this seller.
Most multi-unit buildings are sold with owner financing. Submit two offers. They’re cheap to write. First, you?re original idea. Second one discounted for all cash (50%?). If he won’t open a dialogue, forget it and move on.