- Joined
- Oct 11, 2007
- Messages
- 189
This post is directed to Barry McGuire or Tony Peters, but it is certainly open to any warm body who wants to offer me advice.
I am wanting to make an offer on a property in Alberta. It was originally listed by the owner for $592,000 who was relocated elsewhere by his company. When it didn`t sell it was bought out by his company who has dropped the listed price to $500,000.
My thought was to make two offers: 1) a standard offer for $460,000, conventional financing, etc, and 2) an offer for full list price (or even $510,000-515,000) built around an AFS, proposing $20,000 down, monthly payments of $1750-2000, with a 0% interest rate, to buyout in full in 24 months. Immediate closing, etc.
Any suggestions or recommendations? Would you offer above list price and no interest (saves us about $30000 in interest and we give up $10000-15000 in above list price) or somewhere below list and an interest rate of, say, 3.5%?
Also, do you know of a good lawyer who could do this for us? We have used Ritchie Mills in the past, but not sure if they are the one`s to do an AFS.
This concept is new to me, so appreciate any comments and advice.
I am wanting to make an offer on a property in Alberta. It was originally listed by the owner for $592,000 who was relocated elsewhere by his company. When it didn`t sell it was bought out by his company who has dropped the listed price to $500,000.
My thought was to make two offers: 1) a standard offer for $460,000, conventional financing, etc, and 2) an offer for full list price (or even $510,000-515,000) built around an AFS, proposing $20,000 down, monthly payments of $1750-2000, with a 0% interest rate, to buyout in full in 24 months. Immediate closing, etc.
Any suggestions or recommendations? Would you offer above list price and no interest (saves us about $30000 in interest and we give up $10000-15000 in above list price) or somewhere below list and an interest rate of, say, 3.5%?
Also, do you know of a good lawyer who could do this for us? We have used Ritchie Mills in the past, but not sure if they are the one`s to do an AFS.
This concept is new to me, so appreciate any comments and advice.