OfflineIf you are searching for a owner finance and the sale price is far above the FMV price. ie. asking price 20K FMV $8500, what do you offer and how do you figure it out?
Please advise. I looks like it has been on the market for approx 146 days.
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Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman
www.twitter.com/brownstoneREIgr
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Someone correct me if I'm wrong, but you should calculate your offer the same way you always do. (FMV-Profit margin-Holding costs-REA commission-closing costs-rehab) Just some of the things you can deduct from your offer.
http://www.deangraziosi.com/node/3975
You may offer a bit less to leave room for negotiating, but never go over your maximum allowable offer. If they want more than that then walk away letting them know that the offer will be on the table in the future if they decide to lower their price at a later time.
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Hello folks,
You see if you are buying a house w owner financing. He or she have the condition that you need to SEE if you accepted or ask ask ask for some flexibility. It is part of your job to check for the FMV.
Now if you are the want giving the owner financing you are the one that wanted the house to be sell so you wanted to be fair, but that depend on how fast you wanted to sell the house.
Good luck