Need Help ! First Deal...
Here's the situation: A recently divorced couple...
Loan debt: $ 72K
House market value: $ 105K
He wants to lease option, but his former wife wants him to sell the house so she can get $ 15K. She won't dee the house to him because she wants CASH. Can anyone offer me some suggestion? Thanks
I say sell her on a Lease Opt. talk to her about it and show her why lease opts. are better then selling.
So are you the husband or are you an investor trying to make a buck on this deal?
No, I am not the husband, but I am a close acquaintance of him.
Talk to her about an L/O. Give her 1k, which will be more than he got, and when you cash out, give her 14k, and be done with it. If you can sell the house, you will still make a piece of change at closing.[ Edited by miraclehomes on Date 07/22/2004 ]