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Updated over 1 year ago on . Most recent reply

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Alex Boots
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Cash at closing

Alex Boots
Posted

I am looking at a 48-unit deal and spoke to the broker today. I asked him other than price, what motivates the seller the most? He said cash at closing. 

Can someone clarify what this means? If I get a conventional loan to buy this (60% LTV) is that different than cash at closing?

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,108
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied
Quote from @Alex Boots:

I am looking at a 48-unit deal and spoke to the broker today. I asked him other than price, what motivates the seller the most? He said cash at closing. 

Can someone clarify what this means? If I get a conventional loan to buy this (60% LTV) is that different than cash at closing?

My guess is nothing creative.  No seller-financing, sub2 , etc. 
The seller is motivated by money.  Big surprise, right?  The broker gave you no information.  Big surprise again. 

Try not to get discouraged about this thread.  You'll see the same poster's on BP just saying how many deals they supposedly do or whatever but it's not everyone.  

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