How does this Structer look? (Seller Financing) - Posted by Jason

import · July 29, 1999, 7:33am

Posted by Paul_OKC on July 29, 1999 at 16:55:40:

Well, unless you found a REALLY motivated seller - you will be laughed at. Nonetheless, make the offer (in writing) and see what they come back with. I read somewhere that “if your not embarrassed by your offer, your offer is to high”

import · July 29, 1999, 7:33am

Posted by Jason on July 29, 1999 at 07:33:28:

I plan on proposing this deal…

Note: I plan on buying this home to live in…

Asking price: $93,000 (was $97,500)

My Offer:

5% down ($4,650).
Seller to cover closing costs.
Seller finance the remaining $88,350 @ 2% interets for 15 years…

Is the 2% way off base for seller financing.?? (afraid they are gonna laugh at offer)
What is the average Selling Finance % ?

Thanks, jason