Please help me create the perfect seller financing offer!

[Antwan Davis]

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