Posted by Tom on June 22, 2001 at 09:02:53:
This is a perfect setup for a “subject to” deal. Go to getthedeed.com…
Need quick advice on potential l/o deal? - Posted by Earl
Posted by Earl on June 21, 2001 at 20:55:05:
I have a meeting with a seller tomorrow morning, who has a home for sale by owner. They will be moving out-of-state by the 2nd week of August due to a job transer. They are willing to consider a lease option deal. They have been in the home for about 16 mos. and owe about $107K, piti $1026/mo., they are trying to sell it for $119K. I think the home is worth about $115K. It is a 3/2 with 1542 s.f.
What do you think about this potential deal? How should I stucture my offer and terms for the home?
My thoughts are to l/o it for the loan balance for at least 3 - 5 yrs. and agree to pay their mort. payment after they make the 1st 2 payments after moving out.
-Earl