OfflineI have a seller for a property owned free and clear, they paid for it when it was bought or built. Am working on this info and waiting to hear back from the listing agent. The seller would think about creative financing and is open for all offers. It is a 3br 2 ba home located in the southern part of oklahoma in a nice area where I once lived myself. Since the current owner paid for this house completely there is no appraisal on the property but the listing agent is also an appraiser so the selling price is no doubt close to the appraised value. I am trying to find out the fmv on the property, no repairs are needed seeing how the owner kept the property in very good shape. I have put in offer on this property and to see if the owner will go for owner financing or maybe even a lease to own option as I have a tenant buyer on hand that seen the property already and really liked it. So I am waiting to hear back from the agent to see what the owner comes back with a counter offer and the like.
What are your plans for the prop if you make a deal? Buy and hold, lease/option, sell at retail. Better have a game plan in place if this deal goes through. Good luck though, could be a nice deal in the making...Jan
Thanks for replying jan, I heard back from the listing agent house was built in 1975 so is pretty new. First the owner was open to all offers and owner financing too so my offer was 80,000, 4,000 down which my tenant buyer would cover, 6% interest for 20 years and the owner comes back now with 91000, 2000 down as earnest money then the rest at closing so now they want it all on closing. Was looking to lease this property out since I have a tenant buyer that has been looking for property for some time now and really liked this one along with others that I made offers on as well that the sellers did not go for lease option to own or owner financing and this is the third one that fell through as well. Yes it would of been a really good deal due to the equity in the property and the seller realized this too. Well just have to keep looking and thanks for the reply again.
shawn