Updated 8 months ago on . Most recent reply
When seller financing doesn’t work…
I fear I blew a deal because I didn’t have the confidence to pivot away from seller financing.
A seller had a problem to solve - they needed to sell a property to move closer to family.
My dilemma was the property needed over $100K of rehab, the seller wanted $500K plus for the property and we were miles apart of price. With interest rates of hard money and cost of insurance, my offer wasn’t good enough.
Seller financing would have got the seller to their ultimate number but monthly payments were not an option for them.
I let the deal die because I wasn’t seeing the path forward to solve the problem AND make the numbers work.
I want to learn from this, can someone provide some feedback here and advise on some other avenues I could have taken (when private money isn’t necessarily an option). Happy to elaborate to answer any questions.