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Updated over 5 years ago on . Most recent reply

Bob O'Neill's profile image
Bob O'Neill's profile image
Bob O'Neill
  • Flipper
  • from Hamden, Connecticut
  • Member since Feb 4, 2013
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Bob O'Neill's profile image
Bob O'Neill's profile image
Bob O'Neill
  • Flipper
  • from Hamden, Connecticut
  • Member since Feb 4, 2013
Connect
Bob O'Neill
  • Flipper
  • Hamden, CT
2
Votes |
11
Posts
Innovative Strategies

I need information about selling my home and financing part of it

Bob O'Neill
  • Flipper
  • Hamden, CT
Posted

Hi Everyone,

I need a little advice. I am selling a single family rental property for $189900. I have an offer on the property for 185000 but it will be broken down to $165000 cash with me holding paper for the $20000 difference at 4%interest with a balloon payment at 5 years.

I never did this type of sale before..It this reasonable percentage rate and hold time? What would be a reasonable counter? What problems can I run into doing this type of sale?

Any information would be greatly appreciated..

Thank you

Bob

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