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Updated over 10 years ago on . Most recent reply

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5
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Tonya Hall
  • Pensacola, FL
0
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5
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Good deal or not?

Tonya Hall
  • Pensacola, FL
Posted

Found this deal on craiglist in my area. Wondering if the seller is offering a good deal or just putting more money in his pocket. 

ad reads: Available for immediate occupancy is a 3 bedroom 1 bath home located in Milton near Stewart Street. Buyers must be willing to do some minor work on the house. Good school district, close to shopping and Pensacola. Home has a large fenced yard. All electric. Refrigerator is not included. Owner financing is the option for this home according to the following terms: Down payment of $2950.00 (covers first month payment). $650 per month thereafter for 360 months. Monthly payment includes insurance (contents are the responsibility of the buyer) and taxes on the home

Seller told me he is asking: $66,900, less down payment money, and there will

also be an additional $5000 given for sweat equity,

which leaves a balance of 61,900 less down payment

money.

I pulled up value of property on county website and property is valued at 41000

Thank you for any input. 

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