Posted by Stacy (AZ) on March 19, 2002 at 10:21:21:
Dale, have you read the latest two “How To” articles? They apply directly to your situation, and would give you some good alternatives. Select the “How To” link at the top-left of the main newsgroup page.
Owned Free & Clear, Need Suggestions - Posted by Dale Crowe
Posted by Dale Crowe on March 19, 2002 at 09:41:48:
I’m looking at a single-family home that is owned free and clear. Asking price is $123,000 The ederly owner no longer lives there and the property is under the control of her heir.
What is the best way to approch this situation?
What would be the best possible deal, straight owner financing with little or no-money down? a new first mortgage with the owner taking back a second mortgage?
I just want to be fair with the owner but not make an offer that is to good. I believe the heir is very flexible and doesn’t want the responsibility of looking after the property.
Thanks for any help Dale