Hellow, What's a good substantial down-payment amount? Thank you, Maria Trinidad

Asked by Maria Trinidad, Valley Stream, NY Fri Jun 21, 2013

Interested in owner- finance for this house. Won't be ready until August of this year.

This question was asked from this property: http://www.trulia.com/property/3119209622-32-Lakeview-Park-R…

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Barbara L Ca…, Home Buyer, Rochester, NY
Wed Jun 26, 2013
the more serious you are about the property, the larger the down payment; depending upon the local protocol it could be anywhere from a flat $500 up to 20%. If the property is new on the market, if there are lots of showings, if the property is priced very well--make it worth the Seller's time to consider your offer.
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Dana Rusnak, Agent, Brighton, MI
Fri Jun 21, 2013
The answer is IT DEPENDS . If this is a purchase for investment only, most will require a much larger deposit. If you will be living in the property, the average amount is 20%. However, with owner financing EVERYTHING is negotiable.

If you'd like to discuss your strategy and ways to approach the owner, please contact me at 350-4952.
Also if you'd like any other informations regarding the purchase of a multi-family, I'd be happy to assist.
0 votes
Janine Young, Agent, New York, NY
Fri Jun 21, 2013
You should be prepared to put down at least 20% on any property.
0 votes
Ken Dauphinee, Agent, Gates, NY
Fri Jun 21, 2013
Is this going to be a actual purchase or a lease-option
0 votes
Mark Updegra…, Agent, Rochester, NY
Fri Jun 21, 2013
Hey Maria,
I can help you negotiate this. Give me a call and we can schedule a showing. Without asking, we won't know how much down is required by the seller.

Mark Updegraff
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