Please Help
Seller has house 2/1 rambler, full basement, oil heat, ac, new deck & roof.
Needs only windows replaced.
Problem:
She bought it in April under the premise that her and hubby would fix up (add on) on 1/2 acre land. Hubby is a player, not interested. She separated from him, home is in her name.
sale price was 399,999 there was an escalation clause (?)
She ended up paying 411,000.
She tried to sell for $440,000. Both sales fell through due to financing. Her mortgage is a very hefty $2300 per month.
Even in our hot market in Northern VA this is steep.
I wanted to do a lp with her but, very afraid I couldnt get enough rent to pay her mortgage.
She's stuck and considering renting it for 1500 and paying rest out of pocket.
Is there anyway to structure this so I can buy with seller financing, avoid her high payment, and so she can benefit?
Please help!!!!
:-( :-(
sound like some one got taken
bow out of that one