Posted by Arthur on June 13, 2003 at 19:33:46:
with regards to #2, i’d bring to their attention that the interest you could pay them would be several times that what they would get if it sat in the bank.
Tell them banks make billions of dollars by borrowing the money from average folks at cheap rates, and then lending it out at a higher rate, and why not just cut out the fat cat middle man and keep the profits between youselves.
Some Suggestions On Dealing With Sellers - Posted by Marv
Posted by Marv on June 13, 2003 at 13:51:14:
Hi everyone,
Can anyone out there PLEASE give me some suggestions on handle these situations when dealing with sellers…
1)—If I’m trying to coax the seller into carrying a small second (5 to 10%), what are some of the advantageous reasons I can use to convince the seller to do so?
2)—If I ask a seller ‘What are you going to do with the money you get when you sell this house?’, and they say something like ‘I’m goimg to just put it in the bank’ (or any answer BESIDES buy another house), how would you respond to them, as opposed to taking part of their equity in cash and the rest on a note? (60% cash and 40% note on a $300,000 house, for example?)
Thanks in advance!!!