- Joined
- Aug 25, 2009
- Messages
- 19
Hi fellow REIN members,
A motivated seller contacted me to buy her townhouse. She owes $230K and willing to sell for cash for $220K. She said she can borrow 10K to pay down the rest of the mortgage. 5 other townhouses in the same complex sold for $250K in the last 6 or 12 months.
Should I take an option on this house and what`s my risk of not getting paid if I find a buyer at $225K?
Thanks,
Hanna
A motivated seller contacted me to buy her townhouse. She owes $230K and willing to sell for cash for $220K. She said she can borrow 10K to pay down the rest of the mortgage. 5 other townhouses in the same complex sold for $250K in the last 6 or 12 months.
Should I take an option on this house and what`s my risk of not getting paid if I find a buyer at $225K?
Thanks,
Hanna