Putting Togather Deal Tomorrow!
The seller owes $13000 on a house that is worth $56000. I had it apsd and under contact but the deal fell though. The lender would only lend 60% of the apsd value and the purchase price was $50000. I have a meeting with seller tomorrow. She said give her $1000 so she knows I still want to buy the house. I have the tenants already that have the money I need to let her know I still want to buy the house. The lender is a hard money lender with will me $37000 to buy this house. What is the best way to put the deal together Thanks for all your help What is the best way to put the deal togetherWhat is the best way to put the deal together. :-?
Comments(0)
Did you give her an offer yet?? You could offer 37000 and flip it.
You could take it subject to: and offer her a note on the balance. Need more info what does the seller want???
i assume the purchase price is your offer. if the hml is loaning you 37k you have a balance of 13k . you could ask the seller to carry the balance on a note or ask he to hold a note on the house till you sell. it really depends on what you are doing to do with it after you purchase. sell or hold?.........km