CHICAGO FIX AND FLIP PROPERTY WITH SELLER FINANCING!

[Eric S.]

Great deal for a fix and flip property with low money down.  House is a 5 br, 2 bath bungalow style with a 2 car garage.  rehab is estimated at 40k-50k, and basement has 7 foot ceilings, so can be finished to add 2 additional bedrooms and another full bath. Hardwood floors under carpeting in most rooms. large kitchen. Great area, great block.  Broker owned.

Terms for land contract:

purchase price: 55,000
purchase will include seller financing via land contract with the following terms:
$2500 down
$500 doc fee
1.25% per month interest only
buyer pays insurance, adds seller as additional insured on builders risk policy
buyer pays taxes, all utilities paid for by buyer
1 year pre-pay, max term 3 years
buyer agrees that purchase is for investment only and will not be used as primary residence.
upon acceptance, buyer agrees to fill out brief application for financing, can provide own credit report to avoid a hard inquiry
warranty deed provided by seller
title insurance paid by buyer if desired
title search provided by seller

no disclosures provided by seller