This was helpful @Doug Pretorius , Thank you! I guess my issue is i need to fully understand the process before presenting it to the seller. The sellers pain point is to move out of the area by December, in which he wants nothing to do with this area once he's gone. We've listed the property for sale with no interested buyers in the first few weeks. Truthfully the home is over priced.He's not willing to budge on price truthfully. So this is a (if the home doesn't sell how about i take over the mortgage) We talked previously about him still owning the property and renting it out while i property manage, but id rather own it if i were to put in that work.
The home has equity in it purchased at 279k and Comps are at 370k, we've listed for 450k.
This is a good work friend of mine so i do want him to come out happy with whatever the route is we take.
With that being said how much would you offer above what is owed on the house? which is probably 265k left?