Posted by Mike on March 19, 2002 at 24:14:33:
You might be able to get a buyer to agree to those terms, but I wouldn’t count on it. It sounds to tight for what I am used to doing.
Possible Deal…Advice Please - Posted by DougW
Posted by DougW on March 18, 2002 at 21:09:44:
Hello all,
I ran into this possible deal, any advice welcome:
Seller moving to new home in area. Wants out in 30 - 60 days. On the market now with YHD. Wants a quick close.
Appraisal: $335
Asking $ 325, negotiated to $300
Loan: $ 206
Payment: $ 2368 PITI
Seller wanted $ 60 down, negotiated to $20 up front.
Seller wanted balance in 6 months, negotiated to 18 months.
Possible Exit:
Deal contingent on finding a new buyer.
Sell on a ILC for $340, try for 10% down.
Amortize for 30 yrs @ 9%, with a one year balloon.
payments : $2462.
It seems a little tight with this method. Can I really get my new buyer to accept a one year balloon?
Any suggestions?