I would like to buy a house in Sun City, however, I have a home to sell in Estrella Mtn. Ranch. Is there a?

Asked by Pat Scrabeck, Goodyear, AZ Thu Apr 24, 2008

way I could put $40,000 down on the SC house and have the owners carry a mortgage for me until my home in Estrella sells--and who knows when that will be. Since I will be carying a $600 mortgage on my Estrellla home I need to have a mortgage of around $600 to $800 on the SC home. Just wondering what kind of creative financing would be out there for me.

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LeAnn Walters, Agent, Saint George, UT
Sun Aug 10, 2008
Hi Pat, have you sold you home and are you still looking for a sun city place? I am an agent in Utah but I have a friend with a home in Sun City and they may be willing to look at some creative financing. Let's talk!
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Pat Scrabeck, Home Buyer, Goodyear, AZ
Fri Apr 25, 2008
Sorry I didn't make myself clear. The property is $175,000 and I would be putting 20% down. It has been for sale for over a year so I think I might be able to get a good deal. It has been reduced quite a bit--they bought at the peak in 2006 for $245,000 and have reduced it down to $175,000 so perhaps they are a little desperate. Thanks.
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Jonathan Dal…, Agent, Glendale, AZ
Fri Apr 25, 2008
It's possible to find a seller who is willing to do a carry back - there are very few, but it's a slight possibility. The big question is the math ... the mortgage you're looking to carry means your total purchase price will be under $100K, financing under $50K. Unless my math is completely wrong this early in the morning.

And there are a very limited number of properties in Sun City under that $100K.
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