- Joined
- Oct 7, 2007
- Messages
- 699
Hello quick turn gurus,
I have an opportunity to buy a property for what is owed, with approx 15-20K in equity. Their mortgage is up for renewal in April 2014 and they have a huge payout penalty if they sell or break the mortgage early. So I was thinking of proposing an agreement for sale, which leads me to my question:
How do you "sell" an AFS deal to a seller? ie. How would an AFS deal benefit these sellers, other than saving them a payout penalty??
Also, what kind of "wording" and terminology do you use with sellers...my motto is KISS (keep it simple stupid).
Thanks for your help!
I have an opportunity to buy a property for what is owed, with approx 15-20K in equity. Their mortgage is up for renewal in April 2014 and they have a huge payout penalty if they sell or break the mortgage early. So I was thinking of proposing an agreement for sale, which leads me to my question:
How do you "sell" an AFS deal to a seller? ie. How would an AFS deal benefit these sellers, other than saving them a payout penalty??
Also, what kind of "wording" and terminology do you use with sellers...my motto is KISS (keep it simple stupid).
Thanks for your help!