jigsaw puzzle help needed

[Raju Pothuraju]

Goal - to finance this purchase without a bank.

puzzle piece number 1 - 130k loan (not assumable) that the seller is ok for a subject to

puzzle piece number 2 - seller will not budge for price to be $340k not even closing costs split

puzzle piece number 3 - wants $40k cash for her to seller finance the rest of the 340k

solution 1 - borrow $40 k from private lender? can be challenging with my limited network

Is there another way to make this deal work without a bank finance?

[Christopher Telles]

Originally posted by @Raju Pothuraju:

Goal - to finance this purchase without a bank.

puzzle piece number 1 - 130k loan (not assumable) that the seller is ok for a subject to

puzzle piece number 2 - seller will not budge for price to be $340k not even closing costs split

puzzle piece number 3 - wants $40k cash for her to seller finance the rest of the 340k

solution 1 - borrow $40 k from private lender? can be challenging with my limited network

Is there another way to make this deal work without a bank finance?

 You don't say what the value of the property is in your question. Without knowing what the value of the property is its impossible to provide any guidance as to whether this is a deal you should even buy, regardless of the terms of sale. A sellers asking price is often nowhere near its true value.

The puzzle piece number 3 is concerning. Unless you're buying this property at a substantial discount why would you agree to pay $40K as to what amounts to a financing charge?

If its simply to own a home then there are many other ways to find and buy a home without using bank financing and without having to pay any finance charge. $40k is a lot of money simply for the right to finance a purchase. That's egregious and probably against state and federal lending laws. 

Since the seller, according to your comments, is not wiling to a) participate in sharing the closing costs and b) unwilling to negotiate the price and c) wanting a bloody fortune as a finance charge, I recommend you look elsewhere for a home to purchase.