Building apartment for sale

1 Reply

We saw an offer online, from a guy selling 24 unit apartment building, he said that they also offer seller financing by giving us time to pay the entire amt after 6 months, so we could refinance it, we asked for the documents and he sent it to us. It says that the property’s purchase price is for 300000 € plus 140000 € company loan, so we were excited to take the deal but then he suddenly said that, that price is for immediate purchase and that if they’ll give us allowance for 6 months then the property would already cost 650000 € for purchase price. We’re still thinking if we’ll get it or not since we don’t have cash for immediate purchase and if we’ll have it refinanced after 6 months it’ll not be possible for that purchase price. Location is not that ok too, not near a school but they already got tenants in, pipes still needs to be renovated, 1400 sq meter, Should we take the deal or not?

Originally posted by @Krystal Joy Erguiza :

We saw an offer online, from a guy selling 24 unit apartment building, he said that they also offer seller financing by giving us time to pay the entire amt after 6 months, so we could refinance it, we asked for the documents and he sent it to us. It says that the property’s purchase price is for 300000 € plus 140000 € company loan, so we were excited to take the deal but then he suddenly said that, that price is for immediate purchase and that if they’ll give us allowance for 6 months then the property would already cost 650000 € for purchase price. We’re still thinking if we’ll get it or not since we don’t have cash for immediate purchase and if we’ll have it refinanced after 6 months it’ll not be possible for that purchase price. Location is not that ok too, not near a school but they already got tenants in, pipes still needs to be renovated, 1400 sq meter, Should we take the deal or not?

If you don't have cash now what would change in 6 months?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you