Subject To/Seller Financing Help

[David Campbell]

I'm looking for some advice on the best way to structure a sub to deal with a potential seller. There's approximately $240k left on the mortgage and the sellers are motivated because they are moving for work and need to get rid of this condo quickly. They do need some cash up front though. The listing price is $369k. This condo is in a prime location for short/mid term rentals near the ocean. Looking for advice on how to structure this deal so we both get what we want. Also, I am not sure what their interest rate is yet from a few years ago when they first bought the prop.

[Wayne Brooks]

@David Campbell A couple of things….

-They would be foolish to do a sub2 deal….along with the inherent risks to them(their agent may not know what that really means yet) , they’ll likely be looking to buy soon where they are moving

-If their asking price is realistic, they have about $125k in equity.  I can’t imagine them giving even half of that away.