Robert, I would talk to a mortgage broker to see if you sent them someone would they pre-qualify them for you. Then I would run an ad for sale with details about the property, and at the end I would put seller can do creative financing. This will get your phone to ring, which you want. Thats when you let your mortgage broker pre-qualify them.
Some of the things that you could do is offer to pay part of their closing cost, or you could take back a small second mortgage. If your going to do any of these things than you could ask a premium for your property. When I’m paying someones closing cost I up the price of my property by that amount. Good luck, Tom
I finally bought my first house and the rehab work is almost done. I have a buyer line up but my mortage broker told me that they only give her 70% of the money to purchase the house because her credit is extended. Please help this is my first project and I spent all my own money repairing the house. So I need to get my money back as soon as possible. The purchase price is only 87,000.
I would be happy to help you structure financing. A lot can be done to ‘build in’ closing costs and possible seller carry’s w/o giving up all your equity. As a mortgage broker I have conventional as well as non-conforming funds available and can do loans in most states. Good luck!
Steve clifford gmbi3@aol.com