How to present 3 offers

[Michelle Schrader]

Hi! New to real estate and new to PRO!

I’m getting ready to put my first offer on a side by side duplex that has been completely renovated by a seasoned investor. In order to not sound like a complete idiot and/or make the deal fair does anyone have suggestions on how best to structure a 3 offer deal? Is there any sort of guideline to try and follow?

These are my thoughts (please let me know if this sounds reasonable but please be constructive if this seems way out of whack).

Asking price $254,900 (he already told me his target based on comps was $250. His wife is the listing agent, we would like to go in without an agent to save the $7k in commission)

Offer #1

Cash $200k

(Although my “cash” would be $100k 401k loan..5.75 rate and $100k heloc on my personal residence...2.49 fixed till 10/20 then variable prime plus 0.25 after 10/20)

Offer#2

$230k conventional mortgage with 20% down 4.5% fixed 30 year

Offer#3

$250k seller financing. 10% down, $225k loan at 4% for 30 years.

The seller financing part is where I’m definitely unsure...do you tend to offer higher purchase price? Should I offer higher interest rate than what I could get conventionally in exchange for less money down and closing costs?

Thank you, this site has been invaluable as I take the next step in my journey!