All Forum Posts by: Steve Racicot

If they are contributing to the Partnership, then money should not be an issue.  

@Jameson Sullivan Did you try getting the Refinance, line of credit with your Spouse or SO?  

@Jameson Sullivan Did you try a Home Equity Line of Credit?

Is the association on strong financial footing where someone can actually get a mortgage from a bank?  That might be the reason behind a cash only offer. 

Yes you could go with a private lender for the initial purchase however, in order to refinance you would need at least 20 to 25% equity.

@Brad Kaiser Split the difference... Buy it 50% Cash and finance the other half. 

Also, something to consider, you can probably get a better deal if you make a cash offer. It would be a quicker closing time, instead of waiting for the mortage loan to go through its process. 

I would look at the Zoning laws and ordinances.  We NH people still like the small town feel and large buildings make everyone outside of the large towns jittery.

You should make sure your financing is in order.. Show them your pre-qualification letter.   This way at least the deal would not fall through on financing.  Yes on inspection contingencies, etc.   You should always have a way out.    It is about you, not them.   Don't worry about being so generous.   Be nice, be cordial.  But buy it for you and at your price.   If they wont budge, then walk away.    Plenty of places to buy.

Price is not the issue. Regardless of the price you offer, they would not be happy.   They are emotionally attached to the property and having trouble letting go.  

I would include your offer, say 1.75M,  and with it I would include a letter and even drawings or pictures of what their current home will look like when you are finished. In the letter, you should appeal to their emotions. Let them know you will take wonderful care of the place. Maybe even invite them to see the place when it is all done.  

Let them know you will take care of the place they lived for many years, 

@Denise Hoitt Did you ever put an offer on the property..

@Eric Hathway I have no personal knowledge of the property managers you listed.  But you should check out NH Core Properties.  I know the owner personally and he is very good.  Reach out to me personally if you have specific questions.