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Updated almost 16 years ago on .

Mike Cartmell's profile image
Mike Cartmell's profile image
Mike Cartmell
  • Residential Real Estate Broker
  • from Colorado Springs, Colorado
  • Member since Apr 16, 2008
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User Stats

100
Posts
4
Votes
Mike Cartmell's profile image
Mike Cartmell's profile image
Mike Cartmell
  • Residential Real Estate Broker
  • from Colorado Springs, Colorado
  • Member since Apr 16, 2008
Connect
Mike Cartmell
  • Residential Real Estate Broker
  • Colorado Springs, CO
4
Votes |
100
Posts
Creative Real Estate Financing

Wraparound Mortgage vs. Lease Option

Mike Cartmell
  • Residential Real Estate Broker
  • Colorado Springs, CO
Posted

I will be selling my primary residence to move out of state. I am into this house for $178,000 (Purchase Price $168k + $10k Rehab). A recent appraisal shows the house is worth $190,000 even thought the tax appraisal is $203,000. I do not want to use a realtor because I don't want to pay commission and am wondering if I should consider a wrap around mortgage or lease option. I also will be moving about 6 hours away and don't won't to put up with the hassle of an out of state rental.
Thanks in advance for your advice.

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