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Joe, Other/Just Looking in Las Vegas, NM

I am interested in Owner will carry. What are typical terms for these types of properties?

Asked by Joe, Las Vegas, NM Thu Feb 24, 2011

I got a counter offer for an owner will carry with 20% down and 7%interest with a 5 year balloon. If I didn't want to put the full 20% down, are there other ways to negotiate this transaction? Less down with higher interst with the ability pay the balance at an earlier date? Looking for possible equity partner to cover down payment? Any other options would also be appreciated.

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Joe,
The sky is the limit! You can counter offer back to the seller with anything you want. What I would do is try to find out the seller's motivation for selling and try to satisfy that and get what works best for you. You could ask the seller to defer some of the 20% to a later date or anything else that helps your situation and helps the seller. This could be a win win situation for both parties.

I wish you the best,
Gary Geer

http://www.GaryGeer.com
0 votes Thank Flag Link Thu Feb 24, 2011
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