Posted by vvaughan on February 24, 2003 at 14:31:40:
Correction: Asking price is $105K
ADVICE NEEDED: L/O ALTERNATIVE - Posted by vern (MD/DC/VA)
Posted by vern (MD/DC/VA) on February 24, 2003 at 14:29:40:
Hello,
Situation: I am attempting to do a Sandwich Lease for a motivated seller. She may not want to wait around for the 60 days that it will take to find a tenant buyer, and she needs some cash to move, but doesn’t want to refinance.
Numbers:
Property comps: 120K
Original Purchase Price: 102K(06/01/02)
Current Mortgage: 101K
Immediate cash needed by seller: 4K
Asking price:05K
What are my options other than lease option?
Thanks,
Vern