My first deal and need to turn option agrmt. to owner financeing

[John Degen]

This will be our first deal (my partners' mom actually) and its a good one too, with a twist.

She owes 130 and its worth 330 to 340 but she'll take 275, she's relocating from Redding CA to Sacramento CA in a couple of weeks. 

Shes an 80 year old widow now, (sharp as a tack) all the sons are here in Sac, And if this next thing isn't motivation I don't know what is... she has season tickets for the Sacramento Kings and doesn't want to have to commute to Sac for the next 43 games. Lol. Seriously though.

So, we have an option at 275 and thought we'd just sell the option for around 299 to 310.

3 bd. / 2.5 bath, 2300 sq. ft. on half acre of a fully matured/manicured landscaped yards. A nice pool, RV access, large shop addition in the garage and a lot of other extras. An overall beautiful spread. And really only needs paint and carpet. 5 or 7 grand??? Hence our below market sale price.

Here's the twist...we got a call from a guy today who wants owner financing. I asked how much he had to put down, he said $50,000 to $100,000 but he'd like to walk the property first. Which is fine but I don't want to do that until she's out in a couple of weeks; and he's cool with that.

So... I'll have to go back to the seller and see if she'll be okay with a delayed pay out.
3 years, 5??? Money talks right? Maybe give her half of the down (25 to 50 thou) and figure out terms on the rest???

What a good problem to have. I think

Any suggestions would be appreciated. - Thanks