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Updated almost 9 years ago on . Most recent reply

User Stats

45
Posts
4
Votes
Malcolm Brown
  • Real Estate Agent
  • Philadelphia, PA
4
Votes |
45
Posts

Seller financing using agreement of sale or land contract

Malcolm Brown
  • Real Estate Agent
  • Philadelphia, PA
Posted

I'm working on a deal, where I would be using seller's financing. In this deal, the property is worth 110k. The seller has a 65k loan on the property @ 8.5%, payments  of $543.63/month. Property has a tenant on a 3 month lease paying 850 a month.  Seller agrees to 5-10k down to take over payments. How should I structure this deal as far as  closing date? (Because of tenants)  Additional clauses?  

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