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Updated over 11 years ago, 06/15/2013
deal in the making or no
I got a email from one of my craigslist ads. the lady wants to sell her house so she can move out of state to take care of her parents. she has a mortgage in place for 175000 from 2005. her payments are 1800 a month which is about 21600 a year and 108000 paid on the mortgage over the 5 year period if you assume payments started in january. that leave 67000 left on the mortgage. her homes value is now between 214000 and 250000 after running comps. not many in the area. house is beautiful on 2.7 acres and tons of pics on zillow and having more emailed to me. sh said it was recently done over. how can i structure the deal so she can walk away from the closing table with money in her pocket so she can move by august? she doesn't want to do a wrap can i whole sale it as is or is there another method i can work to get this deal to the closing table.