Posted by AL on June 11, 2000 at 24:38:58:
There really is no baseline. Just find out what the seller wants. The savings account presentation to him is not a bad way to present that, although, emphasize the distributed capital gains aspect as well.
I would try to get a 2nd for 30 year amortization with a balloon due in say 7 years. Only if you can refinance before then, and get the seller out of the property all together.
All of this of course is dependent upon the cash flow supporting the above suggestions.
What would a baseline be to offer a Seller for carrying the mortgage? - Posted by Janice
Posted by Janice on June 06, 2000 at 08:00:39:
Good Morning:
We were wondering about the idea if a seller would carry the mortgage. What kind of figure should we consider paying over that specified period of time? Example: Say the seller carries the mortgage for $40,000 @ 8% for 15 years. In reality you would be paying $68,808.60. This is far better than any savings account could offer them. Is there a better way of doing this?