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Updated 5 days ago on . Most recent reply

Please help me create the perfect seller financing offer!
I found a Seller who I think will accept the proper Owner Financing offer. The seller has a mortgage with a balance of $320K. Sellers wants to list the property but due to all the fees financially this is the best options. Monthly payments currently is $2300 per month. Please help me create the perfect seller financing offer!
Here is the offer I came up with:
Offer Terms:
- Purchase Price: $320,000
- Down Payment: $11,200 (3.5%)
- Financed Amount: $308,800 to be held by seller as a wrapround mortgage
- Interest Rate: 5%
- Loan Term: 2 years (24 months) (After 24 months, buyer must renegotiate the terms with seller.
- Monthly Payment: $2500
- Payment Schedule: Payments to be made on the 1st of each month.
- Closing Date: TBD
Closing Costs: Since no bank is involved in the transaction, closing costs can be even lower
- Seller covers closing costs up to $5000