All Forum Posts by: Colby White

I am attempting to workout some terms with a seller.  They want to sell, but only at the price they want. They have not been able to sell the property in years.  The problem is that the property is in too bad of condition to get the upfront, cash price that they're looking to gain.  I can understand this pain.

The property is free and clear and seems like the perfect opportunity for owner financing.  I suggest to the seller to reduce the purchase price, gain a down payment, and finance the remaining balance.  With the interest on the remaining balance, the seller actually profits way more than their initial goal price.  It's a passive, monthly cash-flow and they no longer have to worry about the property.  

The seller's fear is that a buyer will sell the property before the term is complete and simply look to payout the remaining balance before their purchase price goal is reached.

My question:  Is there something that guarantees that a buyer completes the financing full-term?  

Any advice is GREATLY appreciated.

My wife and I are looking to land our first deal.  We've spoken with numerous sellers, but nothing yet.  My question:  Should you make offers over the phone or in person?  Does it matter?

@Mary Mitchellthank you!

@Mary Mitchell The owner has a hard time reaching them. Whenever she goes to the house the tenet meets the owner in the driveway. She suspects there are others are living in the home w/out their knowledge.

@Nicole A. Thank you!

@James Wise We planned to get the property under contract and assign it to a buyer. That’s illegal?

@James Wise Thank you! It sounds like this is something that the seller would have to settle first on their own before we can deal. Would that be correct?

My wife and I are looking to land our very first wholesale deal, but there is a problem.  The seller is having to deal with a tenet who appears to be dodging her.  Any advice on how my wife and I can help the seller?