Posted on: 21st Apr, 2011 09:27 pm
I found a home that has owner financing available. I really like this home but it will be about 4 months before I can occupy the home. how can I make it attractive to the seller to hold it for me? I would guess earnest money? the asking price is 100,000, how much earnest should I offer??Basically what kind of offer/ offers should I make to the seller so he wants to sell to me AND hold the house too???
I'm pretty new to all of this, and appreciate any and all advice.
Thanks!!
I'm pretty new to all of this, and appreciate any and all advice.
Thanks!!
Hi rr,
You should note that it will be completely the owner's discretion as to whether or not he will wait for 4 months so that you can buy the property. You can give the earnest money to the owner and sign an agreement with him regarding purchasing the property after 4 months. This will help the owner believe the fact that you'll purchase the property and your money will also be safe. If he is not ready to accept the offer he will let you know then and there.
You should note that it will be completely the owner's discretion as to whether or not he will wait for 4 months so that you can buy the property. You can give the earnest money to the owner and sign an agreement with him regarding purchasing the property after 4 months. This will help the owner believe the fact that you'll purchase the property and your money will also be safe. If he is not ready to accept the offer he will let you know then and there.
As per my percetion, Owner is whole and sole decision maker. If you want to book his property you have to discuss with him and set agreement on payment conditions and decide and take decisions by legal ways
Just come to any conclusion by discussing with owner and make everything documented by legal way.
Best of luck..
Just come to any conclusion by discussing with owner and make everything documented by legal way.
Best of luck..
I realize the owner holds all the cards as far as decisions go. Any ideas on how much to offer on the earnest money or should ask him/her for to come up with a price? I do not want to insult the seller by coming in too low and the inverse is true, don't want to look like an fool by coming in too high.
I know, silly questions, just don't want to screw this up.
thanks again!!
I know, silly questions, just don't want to screw this up.
thanks again!!
Hi rr,
You can ask the owner to come up with the price. If it's affordable for you then you can go ahead and pay it or else you can negotiate for a lower price.
Thanks
You can ask the owner to come up with the price. If it's affordable for you then you can go ahead and pay it or else you can negotiate for a lower price.
Thanks