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Updated over 6 years ago, 09/08/2018

User Stats

34
Posts
12
Votes
Luis Fernandez
  • Saint Louis, MO
12
Votes |
34
Posts

How do I Sell a 12-unit Building?

Luis Fernandez
  • Saint Louis, MO
Posted

I own a 12-unit building. I have an interested buyer wanting to purchase the property for $100,000 with a $10,000 down payment and payments of $593 per month for 6 months. He wants to pay the entire remaining balance after 6 months when he is able to populate six of the units and get a commercial loan. What are the first steps in making this process happen? How does the deed in this type of transaction get transferred? Does a mortgage company need to get involved? What are the things to watch our for is this type of deal? 

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