How is mortgage affecting wholesale deal?

[Pat A]

For a wholesale deal, I read somewhere that one of the question to ask the seller is "How many years left in mortgage?". My question is why ask. How is it affecting a wholesale deal???
Does that mean my offer shouldn't be less than the remaining principle of the mortgage???

Thanks for the input

[Bill Gulley]

Sounds like a sneaky way to estimate what they owe if you know the rate and payment amount amount. SOme questionaires ask 50 questions, like an psyc test to get more information than they would otherwise say. You don't need this at all. Sounds like verbage to take up space in an article or a guru book! What the owner owes has no bearing on what it is worth today or what you should give for it. It only becomes relevant if you start talking about seller financing, the amount they can carry back in equity. Good luck, Bill