I got this break down from a listing agent. Please Help

[Andri Artayudianto]

Hi All, I'm new and need help. I'm looking to buy this townhouse for student rental. (I can potentially have 6 bedrooms rented for about $500). No major fix required. I got this email from the listing agent. The owner will finance.

Here are the terms of the owner financing from the listing agent: $17K down which includes a $7K assignment of contract fee. So 10k goes to the seller and 17k gets financed at the going interest rate for 36 months. Purchase price of the property would be $27k.

What should I do? How should I deal with a wholesaler like this? What's the worst scenario that can happen? The tittle company should be able to clear the tittle, correct? What should I be worry about?

Any input would be appreciated.

[Wayne Brooks]

Okay, so you're paying a $7kwholesaler fee on a $20kpurchase? Other than that, the seller is financing $10k.  Be Very careful about a title search, back taxes, code violations, etc. I'm guessing someone is trying to sell you their problem.