Posted by jasonrei on May 11, 2004 at 08:36:18:
An idea:
sales price= 132k
special provisions= Seller to pay Buyer $5000 at closing. Seller to pay Buyer $952 by June 1, 2004 and $952 by July 1, 2004.
Ever had a seller pay you to take their deed? - Posted by Daniel_NC
Posted by Daniel_NC on May 10, 2004 at 22:48:39:
I’ve heard Randy & Charlie France speak about getting the deed and having sellers pay you at closing. So I pitched that idea to this seller who is ready to move. He said yes…he will sell sub2 and bring $5k to close (maybe 7k).
The numbers:
$132k first mortgage
$952 payment piti
$5k paid to me
$1904 (2mo. pmts) paid to me
My question is how do write this up in a P&S agreement? Do I list selling price of 132k…if so where does $5k & $1904 go? Or maybe write it up as sell price of 127k? I’ve got the other sub2 docs (cya, poa…) but have never gotten paid on sub2 before.
Thanks for any ideas,
Daniel