Updated almost 12 years ago on . Most recent reply
How to Word Offer
How do you word this deal?
Purchase price: 500k
Hard money loan of 250k
Seller finance 250k
Forget interest rates and terms.
Do I just say 250k down and seller carry 2nd or do I have to specify that the 250k is coming from a lender. I know in syndication the syndicator doesn't express where the DP is coming from but in debt situations where is it specified.
I talked with seller and they said they don't care where it comes from as long as they get 250 at closing but I ranged to make sure I did everything right.
I know on financed properties you refer to all cash offer to indicate that the buyer will receive all cash at closing and a financing contingency usually indicates financing but not sure on the legal wording.