If they still haven't paid, offer cash for keys.

Both my daughters did the same (with a little push) & it's paid off in spades.

That seems incredibly low–does this mean that they've paid off the original mortgage to a point where they own 98.2% of the home?

The estimate below is as-if both sides are rented and W/S/G is paid by the tenants.

I totally get why they want to buy their rental portfolios and if at the end of the day they make a grand or two a year on a house and it becomes paid for by the tenant thats still a good out come

After receiving the package in the mail, I looked through the information, I ended up not sending it back and I paid for it. 

they are usually paid for performance.. but some bigger outfits actually bring them in as employees with bonuss'everyone has to eat and pay for gas.

If we pay for the HOA or condo dues, we make sure that they are paid one month in advance, so again they are not late.Insurance and taxes are usually kept in reserve, or we reserve a little each month so that when it comes time to pay we have funds already in their account.

(the down payment is completely relevant to the seller)Interest- 7% is pretty standard...it's a premium paid for consideration in carrying the noteAmortization- 30-years is typicalPayment- I would look for the actual P&I based on the amortization schedule, but again, this is relative to the sellerBalloon- 48-60 months is common, and this is completely up to the seller as well (If sellers are leary of the time frame, I always agree to attempt a re-finance sooner...but no guarantees)Some extras:I always pay the listing agent's commision based on the transaction price...otherwise, you can structure a partial commission the first closing and a second commission when the balloon is due...waiting 48-months for the rest of your commission is crazy, thoughWe pay all the doc prep fees (note/mortgage/amortization/assignments/personal guaranty) Typically around $300, so not bad.- use the attorney at title and add it to the HUD-1We use a clause in the note that waives the right to defend a foreclosure in default, so the property returns to the seller without contest (varies from state to state I imagine)We also pay the sellers closing costsAll of this stuff is negotiable...you can always push things with these...like lower the down payment and have the buyer pay all your clients fees and your commission, etc.Give me a shout if you want to chat more about this topic.

They wanted me to pay off $14,000 of debt which i did but when I walked away from the closing table I paid a total of $12,746 in additional closing fees.14,000:Debt$12,746: Closing cost on new houseTotal cost: $26,977Netting me only $2,400 from both closes.I felt like putting my head through the wall as the information I was given from my loan officer was nothing close to what happened.