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Updated over 11 years ago, 07/09/2013
Can I do this deal with a seller
I have a motivated seller, who is free and clear of a mortgage of $16,000 and is firm on selling for at least $10,000. The house is actually in descent shape with the only problem being an unfinished backroom and the a/c window units could stand to be replaced. House comped well tax assessor did give fair market for 16K. I did look at some website pricings which was considerably higher, but was only used for reference.
The problem I have run into is that she is motivated to sell and tired of living in the area, but is on disability and can not afford a lot with the amount given ($800).
She probably would have signed an agreement after our meeting, but I did not feel comfortable signing the agreement not knowing if this seller would have somewhere to live after and it sounding like I took advantage . She asked about section 8 voucher housing program, which is a subject I am not completely familiar with, but I said I would find some answers about the subject and get back to her.
Is there a better way to make this deal happen or am I delving into dangerous territory?