Posted by Brent_IL on September 08, 2003 at 21:37:00:
Forget this deal.
If it is a deal.
She couldn’t get one million for it two years ago. Interest rates dropped. This made qualifying for financing easier, but no sale at $900K. She may be motivated, but why do you feel that you can do any better the the owner has done in years?
Potential L/O property help - Posted by BrandoM
Posted by BrandoM on September 08, 2003 at 20:48:21:
Hi!
I have not done any REI yet but I think I found a potential property for a L/O. The owner has a big house in an upscale neighborhood here in Chicago but does not live there anymore because she already have a new house in another town. When I talked to her she is getting tired of having to pay two mortgages and is very eager to get rid of the big property. I am just very worried because the price she is asking from it is $900k, though she initially was selling it for at least $1M two years ago. Would any one please advise me how to move forward? I know I really have a motivated seller. Please help!!!