Posted by Ed Garcia on November 06, 2000 at 10:14:54:
Scrum,
There is so much we don’t know about this deal. Obviously to see sub-dividing and selling off the additional acreage, as the up-side to this deal. The first thing I would do is to find out what, and how long it will take to do this. If I could, I’d like to put this as a contingency of my offer, if it could work with in the sellers time frame. I would hate to see you run into a problem sub-dividing the parcels.
Once I’ve done that, I would then try to keep the additional parcels out of the financing if the appraisal would hold up on the farm house and parcel that I had plan to keep with it.
Now I own the parcels free and clear. That will allow me to sell them independently of each other with out disturbing my loan. That will give me the cash I’ll need to do the work on the farmhouse. If you are having the seller carry everything back, then you would still need to discuss release clauses on the parcels.
Scum, there are many questions to be asked when analyzing and structuring this deal.
If you would like, you can call me at (909) 944-0199 and we can discuss your deal.
Ed Garcia