Re: URGENT! - Posted by Brandi_TX
Posted by Brandi_TX on March 10, 2000 at 08:31:29:
You said, “Let’s say she’s ready to do the deal but also doesn’t want to make the payments.”
What will she do if there is no deal? She will either make the payments or default. Find your posture. I am not saying to go to her with a “without me you are screwed” attitude, but realize that you are the one to decide what you will do. If you are not willing to make the payments until you find a T/B, then YOU have no deal. (Not that there isn’t one there, just not one YOU are willing to do.)
Figure out what you are willing to do, make your offer, and know what is the most you will deviate from it. If she likes part of your deal but doesn’t want to make any of the payments, decide what it will be worth to you to take that risk.
She has 50k in equity, I am not sure what you are planning on offerring, but if she doesn’t like your terms, couldn’t you try to negotiate getting more of her equity in exchange for your higher risk? Would an extra 15k make you more willing? Would an extra 15k make you bust your rump to ENSURE you get a T/B in there quickly?
Just some food for thought, Leon. Besides, until you know if the loan is current, you don’t even know if waiting for a T/B is such a wise idea. You also have no way of knowing if she will require a chunk of change up front.