Seller Financing

[Trevon Peracca]

Good afternoon BP,

I have a motivated seller that would like to do business with me. The property is in great condition. He rehabbed it for his mother to live in and then she unexpectedly passed... He owns it free and clear: I want to wholesale the deal but if he won’t agree to the price I would like to offer seller financing to get him more money on the deal and I could hold it as a rental.

He had it listed on the MLS with a family member for 140k, but he responded to my direct mail and said he is willing to negotiate.

Can some please explain how to structure a seller finance transaction as far as paperwork and dealing with title/escrow etc.?

Here are the Numbers:

ARV: 150K

Repair Cost: 15K (Garage needs to be torn down, need to pour a new slab under the garage, and rebuild garage.

Average Rent: 1400

If I wholesale it, my MAO will have to be around 75k, in the event he does not accept that, I want to have an alternative solution to his problem.

Please share thoughts

Thanks,

Trevon