Posted by Izzy on January 23, 2003 at 18:38:25:
I have seen contracts with “riders” saying “due to the buyer accepting the property in “as-is” condition, a credit of $15,000 will be granted toward the re-hab of the property’s roof, plumbing, and other systems”.
Ask your attorney.
how to word a contract to obtain 100%financing - Posted by M Saffle
Posted by M Saffle on January 23, 2003 at 12:35:02:
My husband and I have been investing in real estate for a couple of years now, and have been quite successful. However, our mortgage lender has closed some loopholes where we cannot go off of appraised value but instead the purchase price only. We would have to come up with 10% down plus closing costs. We like no money down deals. Is there a way to put in the contract with the seller where we can get money back at closing for repairs and down payment as long as the property appraises high enough? These properties are for rentals and most purchases are under $65,000.
thank you,
m saffle
Re: how to word a contract to obtain 100%financing - Posted by Don Dion
Posted by Don Dion on February 01, 2003 at 24:00:46:
You might want to do a contract for Deed and refi in 1yr to take out the seller.