Owner Financing?
How can you get a seller to owner finance specially if the seller got a mortgage on the property. and every mortgage that I got or looked at has the due on sale clause?/?
Thank You.
How can you get a seller to owner finance specially if the seller got a mortgage on the property. and every mortgage that I got or looked at has the due on sale clause?/?
Thank You.
You can get a new loan and then have the seller carry back a second. Otherwise, you can purchase subject to the existing mortgage with the knowledge that the lender may exercise the Due On Sale clause. Many people seem to do sub 2 purchases and get them resold before the lender exercises the DOS. John Locke is one of our experts on sub 2 purchases and sells material that is very popular among TCI members.
My input is to get up with a contractor and get a true estimate.............otherwise you are wasting your time and others.
NC_Yank
http://cmlspictures.marketlinx.com/MediaDisplay/79/hr518979-1.jpg
I think this will get the picture. Thanks for trying to guess
Hey Mike,
These are the type of questions I spoke about in a previous posts..............people wanting estimates over the internet.
Again, its like calling a car dealer and wanting to know how much a "car" is????????????????????
Anywhere from $200.00 (pinto) ---- $250,000.00 (rolls royce).
NC_Yank
PS. Hopefully I have not offended any pinto owners......I could have easily said AMC.
Split,
The other problem with guestimates, especially larger ones, is that when you tell a client or potential client a number, they always remember that number and will have a tendency to hold you to it...............even when they say they wont.
As tempting as it is to give an guestimate, be very leary of giving out such numbers.................the more you do it the more liklihood you will be tremendously off making yourself look foolish.
NC
I think I can tell my client this one is too much to get into. And that is what he was hoping to just get an idea of. I appreciate the input, all of you.
The left and right side of the house have similar rooflines so you would need to change both.
Way too costly and wont add much value unless you can add a 2nd FL on the "middle" part of the house and increase the sqft.
If I were in your shoes the first step I would take would be to go to the city building and safety department. They may require you to tear it down or they may have a list of items that they require the purchaser to fix in order to get an occupancy permit.