selling my house w L/O
Can anyone give me advice on this
I want to sell my house quick,but I want to sell it at appraise value..
Here is my situation:
I have a house appraise 300k
I've put 50K down to purchase it
My monthly morgage is 1800 /with property. tx and home insurance.
Now
I want to sell it with the lease /option
I would do some advertise to get a buyer/tenant correct?
If I have a buyer. How would I explain to them this lease/option stuffs?.
If I advertise
3% down+1900/month rent
for 12 months will get you in this house.
Is this right?
Plvj,
How about this?
Lease Option - Executive Home
No Qualifying -$15,000 Down
Payments $1900 per month piti
Call xxx-xxxx
Then draw up a l/o for $330K with a two year lease. Upon the termination of the lease they will have to refi...
You get $ up front ($15K + $2.4K in payments for two years + $30K on the back end.)
Just an idea... This is from someone who hasn't done a deal like this, YET.
Clint
Wow
that sound soo good.I like it ..
Is that possible???
Can some REI expert give an opinion on that idea.
I would ask 10k down + 2yrs term and 310k though... is that reasonable!!!
Ya you need to advertise for a T/B.... Kind of a funny question isnt it?... lol Anywho, have the down 3-5% of pv.. let em know this will be credited towards the purchase price. Rent it out so you are covering your mortgage or better and also explain you will credit them 50 dollars of there monthly rent to the purchase price as well.. (no more than 50) Figure out what houses are appreciating in your area for per year... calculate for the terms you want to give. If its a longer term, give them a discount and let them see it. They will go for it if they know your discounting it.... But again, make sure its not that big of a discount, you want your coverage of the mortgage and play money as well... Read some more on it though.. and make sure you have some killer contracts... Good Luck to ya...