Posted by dealmaker on June 22, 2006 at 19:26:01:
I’ve got to ask, why take cash out before she sells when she’ll get ALL her money at closing of the sale?
Generally on something like this, unless the vacant lot is worth a ton of money, waterfront, golf course, other unique factor, it’s best to offer it as an “addition” on the sale of the developed lot.
As example, 3/2 for $100K, adjoining vacant lot for $25K or buy both for $115K.
Tell us about the first part though.