No Money Down
If I structure a deal where the asking price is $275,000 and I offer $290,000 with the seller paying all of the closing costs and there is a credit of $10,000 for repairs and the seller finances the 20% DP. Is it going to be hard to find financing for the 80% at a good interest rate? Do lenders want to see some of my own money in the deal? Does anyone know of a broker who can set this up for me. Property is in New Jersey.
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If the appraisal amount is high enough then I don't see a problem with your deal. You might have to talk to a couple lenders until you find one that will work with you, but it should work. Let me know if you run into any problems.