T
TonyMiller
Guest
Guest
Hi, I've found this couple who are interested in an AFS but not sure if the numbers work so any advice or input would be most appreciated!
The home is in a good area and was built in 2012 and nothing is needed except for paint. Great starter home.
Numbers:
Sellers paid $312,547 in 2012 for the property and it's probably worth in the area of $325-330K today. They listed the home last November for $345K and have since dropped the price to $334K. Days on market is over 100. They owe the builder $23K when they sell the home and getting $23K upfront in the form of a deposit would probably seal the deal but this is where I'm stuck.
Oh, they told me they would sell it to me for what they owe on the mortgage.
Principal Balance: $299,248
Rate: 3.04%
Term: 5 Years
Maturity Date: 25 October 2017
The Sellers are open to giving me 2 months to find tenants/tenant buyers.
Would it be a good idea to give them the $23K and if yes would you give it to them up front or would you stagger the payments??
Thanks, Tony
The home is in a good area and was built in 2012 and nothing is needed except for paint. Great starter home.
Numbers:
Sellers paid $312,547 in 2012 for the property and it's probably worth in the area of $325-330K today. They listed the home last November for $345K and have since dropped the price to $334K. Days on market is over 100. They owe the builder $23K when they sell the home and getting $23K upfront in the form of a deposit would probably seal the deal but this is where I'm stuck.
Oh, they told me they would sell it to me for what they owe on the mortgage.
Principal Balance: $299,248
Rate: 3.04%
Term: 5 Years
Maturity Date: 25 October 2017
Principal Balance | $299,248.85 |
Rate | 3.04% |
Term | 5 years |
Maturity Date | October 25, 2017 |
Would it be a good idea to give them the $23K and if yes would you give it to them up front or would you stagger the payments??
Thanks, Tony