“Subject to”…help!!! - Posted by Thomas
Posted by Thomas on October 20, 2000 at 19:46:29:
Sellar calls and has to get rid of her house. She bought it for a son getting married, but it didn’t happen. Now she’s stuck with a hefty mortgage and needs to sell. I explained the PacTrust idea and she liked the idea. She is willing to stay on the title and let me bring in a T/B. I’m a newbie and not really sure what to offer and how to structure it. The number are big also.
I would like to put it in the Trust, buy it for a little bit over the loan balance, make some cashflow, and sell it to T/B for close to FMV. The sellar just did some work on the house to make it marketable, so she wants recoup some of that cost. I would like to hear some opinions on “what to offer” and “how to structure a deal like this.”
Do you think I’m being to ambitious? After all, she called me.