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Updated over 1 year ago on . Most recent reply
Seller is Cash Out Refi so I can buy sub 2
I currently have a seller finance deal where the seller wants a large down payment. Has anyone ever structured a deal where the seller does a cash out refi to cover their down payment then you as the buyer assumes that loan sub 2 and seller finance the rest of the amount owed to the seller in second position?
Most Popular Reply
Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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Nicholas L.
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Pro Member
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Flipper/Rehabber
- Pittsburgh
I don't think this will work, because if they do a cashout refi now, they'll have a high interest rate, and then I don't see why you would to take over payments at that rate...