1st Offer on a Property

1st Offer on a Property

I've come across a property in the Orlando area. Is a 4br 2ba house that was in the process of being remodeled and the owner ran out of money. It is selling for $50,000. I talked with the owner and he said he would take a verbal offer with me sending such in an email. I stated that I'd be getting a hard money lender. He is an ivester with alot of houses to rehab and decided to sell this one. Since he has so many, this is the second offer that I submitted to him.

Owner Financing

Purchase Price: $53,900
Down Payment: $ 1,000
Interest Rate: 4.75
Term: 15years
Taxes & Insurance to be paid by buyer
Closing Cost: $2,500 paid by seller
No Prepayment penalties

I look forward to hearing from you.

Let me know what you think? Always looking for help.



Patricia S. Mack