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Creative Real Estate Financing

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Carol Hall
Pro Member
  • Investor
  • Jacksonville, FL
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Got a better idea, please share

Carol Hall
Pro Member
  • Investor
  • Jacksonville, FL
Posted May 3 2016, 18:53

I have an agent representing a buyer that has moved out of state. She currently owes $508 over the last two years in property taxes. The house is selling for $45,000 its 3/1.5. The property appraiser Just Market value for the property is $40K.  The house has been vacant for a year and it will need a new roof, paint, some floor repairs. I asked the agent if the buyer would consider seller financing. Seller not interested. I'm still going to submit a written offer to the agent in case the seller changes her mind. I only have $5,000 in cash.  I'm still going to submit an offer to the agent in the amount of $30K and offer to pay the real estate agent commission, her property taxes and ask her to hold the note for 12 months (refinance in month 12), in the event the owner changes her mind. This property would be a buy and hold for us and would rent for $1,100/mo. Any other suggestions on making this offer?

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