OfflineI have a seller who has his home for sale at $167,900. While doing my research I discovered the home is worth 164,00 and comps indicate there were no homes sold for more than 164,000. The home is only 5 years old, so it needs cosmetic repair if anything. I have no money, poor credit, and have just lost my job. The seller's motivation for selling is he would like to move to a larger home, and his home has been on the market over 90 days already. I also discovered he paid $138,000. Is lease option the way to go on this or is there a better way?
hometohome
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A lease option or owner financing
You have Worth =164k
Wants =167,900
Owes???? Paid 138k but what does he owe??
Why = Wants a larger home.
First their motivation is not there. Asking more than its worth.
Second, Looks like they need all cash at closing to buy that bigger house they want.
You need to ask if they need all cash at closing or will they accept a small down payment on terms, which your buyer will pay.
Jason S.
San Diego, CA.
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