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Updated almost 5 years ago,

User Stats

73
Posts
48
Votes
Tyler Speelman
Pro Member
  • Rental Property Investor
  • Maria Stein, OH
48
Votes |
73
Posts

Would you give high earnest money deposit to get better deal?

Tyler Speelman
Pro Member
  • Rental Property Investor
  • Maria Stein, OH
Posted
Hello, Off market recently built duplex (2200 sq ft) with tax abatement. Gross rents are $1400 and below market rent ($1600 = market rent) Seller is all in at $190,000. Duplex is insured for $236,000. Seller is asking 231,000 ($105/sq ft) Seller says Duplex is almost paid off. Seller needs cash for new business venture unrelated to real estate and wants to sell ASAP. If cash offer is not doable - would you offer high earnest money deposit ($100,000) given to seller ASAP and finance the rest with conventional mortgage in exchange for lower purchase price? Thanks in advance for any advice.
  • Tyler Speelman
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