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Updated 5 days ago on . Most recent reply

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Antwan Davis
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6
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Please help me create the perfect seller financing offer!

Antwan Davis
Posted

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

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