Posted by phil fernandez on May 21, 1999 at 19:21:36:
Why won’t the seller finance the remaining seven houses? He’s getting his cash out of the other fourteen. In fact if you can’t find financing for the remaining seven, I doubt if anyone else can get them financed conventionally either.
That puts the ball back in the sellers court. If he wants to sell the remaining seven houses, he will probably have to finance them. How else is he going to sell them.
Another point. If you buy the seven houses, with a lack of anyone willing to finance them, when you go to sell them the same problem will probably be there as far as no financing is concerned. This would lower the value of these houses if they are not easy to obtain financing on.