Re: Seller Objections - Posted by phil fernandez
Posted by phil fernandez on January 24, 2001 at 08:14:25:
I’d agree with Paul below. In this situation, I would have never asked “what the least she would take”, that would be what she WANTS, not neccesarily what she NEEDS. It sounds at this point that what she really needs is relief from the second mortgage payment. And you are there to relieve her of just that problem.
I would try to just take over the payments. If you do have to give her some, and I wouldn’t do anything near $20,000, I’d structure the deal in a way that you would pay her the X amount in one lump sum in the form of a 10 year balloon, no interest and no monthly paymentsor something similar.