Posted by Tim Fierro (Tacoma, WA) on March 07, 2002 at 22:41:15:
You may want $115k, but has the property increased in value 33% since that 3 year old appraisal so that it is now worth $115k?
You could see if it will fly with adding wording to the contract that the seller will pay all closing costs and give the buyer $4k to replace carpets, $8k to replace the roof, and $3k for painting. Play with the numbers. Then see if your investor who wants to buy it can get the financing together for it.
Selling my home 0 down - Posted by Tarek salem
Posted by Tarek salem on March 07, 2002 at 21:22:15:
I want to sell my home to an investor. 0 down
I Have a home with a 1 bdrm apartment attached.
it appraised for $87,000 three years ago(before the apartment was renovated.
it is rented for $400/month
I own $70,000
I need $100,000 sale price . I figure something like a sale price of $115,000 and I give a cashback at close of $15,000 . The buyer get his downpayment and I get my $30,000 in equity.
What do you think? I want to put it up for sale next week.