Options to Purchase

[Matt Mozelak]

Please let me know what you guys think....

Found a house nearby in CT, it is not on the mkt but Owners are retired and live in FL, wish to sell. The own the home outright, it is in Very Good condition and worth based on area comps 210,000-220,000. THey do not NEED any repairs, but cud use updateing of Kitchen counters cabinets/bathrooom fixtures etc if you want to try to get more for it. THey said that they were "told" by someone to ask 230,000 for it, which wudn't be bad if it was updated. What is best way to purchace this house? Offer to buy the house taking a interst free mortgage (so they don't pay income tax on the interest) for say 5 years with monthly payments on the principle. THen lease/buy to tenant with % upfront and monthly payments with small amnt allocated twds the sale price of the house? THis is my first one of the type, anyone have any opinions, I wud greatly appreciate them. Thanks in advance!

-Matt