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Updated over 2 years ago on . Most recent reply

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Tyler J.
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46
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Talking directly to seller about creative financing or agent?

Tyler J.
Posted

So this duplex I want is for sale. The person selling is the realtor and the owner.
Checking they have about 118,000 on their loan left. They are asking 515,000 but I am certain they are going to get offers over that.
I can not afford much over 515,000 with a bank loan. How would I go about asking the seller about creative financing? I was hoping to get a bank loan for let's say 200,000 and pay off their loan, give them a down payment, and then seller finance the rest. Would this be reasonable if the numbers work? If so, should I ask my realtor about it and have them pass on the info? Should I call or email the seller?

I'm not sure how to go about this with contacting the owner. 
Thanks all

Most Popular Reply

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5,409
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David M.
  • Morris County, NJ
2,575
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5,409
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David M.
  • Morris County, NJ
Replied

@Tyler J.

No problem.  FYI:  I don't normally hear of seller financing AND a bank loan.  its two liens, and how often nowadays do you have two loans on a property --- just notionally...  Good luck.

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