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May 19, 2006
What to offer the sellers
A lady will give me her property that is worth $153,000.The value is $170,000, the note is 1379, piti. It was appraised four months ago.
Is a cash sale my only option?
The interest is 6.6150
No way on the cash sale. This property is not a deal just to buy. The price vs. value is not very attractive to me. Look for deals at 70% of the retail value minus the repair costs. Now if the rentals in that market for that type of house are higher then the PITI you might take the house "SUBJECT TO" the existing financing.
Posted by paulwells at May 19, 2006 1:35 PM