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Updated almost 15 years ago,

User Stats

14
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0
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Jennifer V.
  • Accountant
  • West Chester, PA
0
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14
Posts

my first deal, owner carry, large dp, need advice!

Jennifer V.
  • Accountant
  • West Chester, PA
Posted

I'm seriously considering the following deal,
Condo in the French Quarter in New Orleans (400 square feet) which is typical for that area
Purchase Price $115,000
Owner will carry with 60K dp

I wanted to know what type of contracts i should look into, the owner is very flexible with payments, but I wanted to hedge my risk and put a stipulaion about finding a renter within two months in the contract...has anyone ever heard about these types of deals? It is ok to ask for that kind of condition?

Thanks in advance!

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