Posted by adria on January 12, 2003 at 12:13:00:
If you don’t mind paying that much, he may be willing to do a simulataneous closing where he carries back the note and then turns around and sells it at closing. He will get a discounted price when he sells it, but if your price is high enough, he will still get the money he wants now and you get the property. If you have questions please call me at 866-838-9165.
NO MONEY DOWN OFFER W/ OPTIONS?? - Posted by SCOTT
Posted by SCOTT on January 12, 2003 at 09:40:11:
I’m looking at a property generating positive cash flow, seller wants 29,000 needs money fast but has other people willing to pay this price. he will not pay closing or any other fees. the house is a great duplex already rented, section 8. i want this house. the house will appraise for over 40k. i want to do a no money down deal. do i offer him 36k and have him take care of the 20% down payment at the bank or are there different options? he is willing to work with me. i guess i’m trying a win/win deal here. thanks in advance.
scott
Re: NO MONEY DOWN OFFER W/ OPTIONS?? - Posted by tony
Posted by tony on January 12, 2003 at 17:41:41:
very simple if you have a job . there are alot of no money down deals that banks offer right now only in the "old"days did u need 20%down. all you have to do is offer this fellow 5%more than the agreed upon price than have him gift it back to you at closing happens all the time where am at