Good deal or not?
Found this deal on craiglist in my area. Wondering if the seller is offering a good deal or just putting more money in his pocket.
ad reads: Available for immediate occupancy is a 3 bedroom 1 bath home located in Milton near Stewart Street. Buyers must be willing to do some minor work on the house. Good school district, close to shopping and Pensacola. Home has a large fenced yard. All electric. Refrigerator is not included. Owner financing is the option for this home according to the following terms: Down payment of $2950.00 (covers first month payment). $650 per month thereafter for 360 months. Monthly payment includes insurance (contents are the responsibility of the buyer) and taxes on the home
Seller told me he is asking: $66,900, less down payment money, and there will
also be an additional $5000 given for sweat equity,
which leaves a balance of 61,900 less down payment
money.
I pulled up value of property on county website and property is valued at 41000
Thank you for any input.