Posted by Mike Daly on March 02, 2002 at 08:13:41:
It depends on the house. If it’s a good house in a good neighborhood, then often you can eventually find someone that will put a large deposit down. Sometimes though, you may just need to take $5000 (or less) so you can move the house (sell on L/O instead, of course).
Main thing is don’t make promises you can’t keep.
I haven’t done the realtor idea, but it sounds promising.
Mike
working with realtors on sub-to - Posted by Tracy
Posted by Tracy on March 02, 2002 at 02:00:56:
I just started listening to Ron LeGrand’s Subject To course, and have a few questions for those of you that are experienced in this area:
On a house that you are selling with owner financing for $120K-$150K, Ron says that finding a buyer to come in with 15K is a piece of cake. How realistic is this?
Next, in the area of finding good properties, have any of you ever approached realtors about sending you the sellers that really want to sell, but there is not enough room for them to get their commission and still allow for some reduction in price? You then take the house “subject to”, raise the price and sell with owner financing. I talked to a realtor/friend today about this and she thought it was a great idea. Have any of you tried this, and has it been a good source of motivated sellers?
I know as I continue to go through LeGrand’s course I will obviously learn more, and maybe he will cover this. But if any of you can give some insight into your experiences I would appreciate it.
Thanks,
Tracy