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Updated almost 4 years ago on . Most recent reply

User Stats

7
Posts
1
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Van Johnson
  • Investor
  • Central Arkansas
1
Votes |
7
Posts

Best way to negotiate owner financing for a duplex?

Van Johnson
  • Investor
  • Central Arkansas
Posted

I saw a duplex on the MLS for a pretty good price listed by the owner himself. I reached out immediately after doing my calculations. He got back to me this morning. I told him I was interested in the duplex, and would take at asking price if everything looked good after I got my contractor/inspector to walk through. He wants to talk this week. I want to negotiate owner financing with him. What would be the best way to approach this with him? This would be the best option for me financially. Thanks

Most Popular Reply

User Stats

309
Posts
264
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Landon Bleau
  • Rental Property Investor
  • Toledo, OH
264
Votes |
309
Posts
Landon Bleau
  • Rental Property Investor
  • Toledo, OH
Replied

Van, I've offered on deals asking for seller financing as well, make sure you come in with a strong offer and know what you're offering.  Are you offering seller financing for 2 years at 5% with a balloon at the end, are you looking to pay off the entire property in 10 years at 4%, are you asking them to hold the note for 30 years?  Just make sure you have your offer figured out down to specifics so you can answer their questions and make them feel comfortable loaning to you.  

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