Need Mentor..40K below FMV..Motivated seller..what to do? - Posted by Petros

Posted by Petros on November 25, 1999 at 24:06:47:

I found a listing handled by broker…2+2.75… FMV 300-310K just reduced by 40K to 269K. Owner willing to carry some paper…What is the best way to proceed? Do I make an offer? How much? What kind of escape clause can I include in contract that the broker will not be suspicious off? Do I go for a quick flip? Buy and lease purchase? I prefer quick cash…By the way I think there is first mortgage 150k balance. Any ideas?