All Forum Posts by: Chad Griffin

My wife and I are selling our home that we still owe about 72k on. A family came to us and want to buy it for 100k, and want to put 50k down, and pay the rest over 3-5 years. They don't have any credit and say they want to pay this off asap. I am curious what, if any, options we have to help them out. I have been researching online but seem to keep getting conflicting information. I will add for context that most of our communication have been through the daughter, who is in high school, due to the parents not speaking English well. I was also curious is charging them interest a requirement? Can we take the difference between selling price and remaining mortgage, then put the rest of the downpayment towards the mortgage and rent them the home? or any other ideas. They are a local family and we would love to help them get a home if possible.

@Dustin Lauer I will definitely check him out, and that would be amazing if you could look over it! I’ll get the links together and send it over. 

@Adam Hobson @Brian Pulaski @Jay Hinrichs 

Thank you for all the feedback and information. I will make sure to do my own research, and take numbers given to me with a grain of salt until I can make sense of them myself.

@Karen Margrave @Account Closed

Is the best way to find the true ARV contacting a local agent? I pulled up the area on Zillow and other houses on the same street/neighborhood range from $60k to $410k, so it seems impossible to find a real value.

@Henry Lazerow

I will definitely be checking over all the numbers, and talking with others in the area before making any decisions. Thank you for being honest!

This was my thought as well. The problem currently is finding comps due to the huge gap in home prices in the area, but hopefully talking with some of the local agents will help. 

This makes way more sense from a broader POV and not taking it as a singular deal. Thank you for the great information!

Thank you for insight, I will be sure to add this to my numbers!

I hope so too. I am trying to get more information from them now, and reaching out to a local agent to see what I can find out about the area. 

From what I can tell, based on their social pages, they seem small. I am in the process of doing my own research now, because it could be a good starting point for us. It just seems crazy to me to have a spread like that and not take advantage yourself, but if your model works I guess there is no reason to change or separate from that.