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Updated over 2 years ago, 06/15/2022
Structuring the deal
Hey all, my wife and I are looking to purchase our first investment homes and will be out of state. We are currently pending on our HELOC that we will be using to fund the down payment of which will be coming sometime hopefully this week.
The investment home is essentially a new construction home going for $255k. I understand that this may be a new construction home and all builders are different as well as the shifting of the market but, I was wondering to make the offer below and want to see if this is something that makes sense or if it’s not a realistic approach.
Happy for any feedback, thank you.
Current sales price: $255k
Offer: $204k (80% of sales price)
Down payment: 20%
Total Loan: $163,200
Closing Cost: Builder to pay