How about this? - Posted by J. CA
Posted by J. CA on July 14, 2001 at 13:12:58:
Tell the seller: “Ok, ok, you’ve got me! I’ll pay you your full asking price at $1,889/month for 180 months, starting in 6-12 months so that I have time to fix the place up before I have to start paying, if I walk away you keep the fixed up house.”
Then find someone who will fix the house in exchange for a down payment and either: 1) pay you more per month than you’re paying the seller, 2) buy your option/contract from you for X dollars, 3) split the difference between the fixed-up FMV and the $340k purchase price when they finance.