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[Anonymous]

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[invst4profit]

I would start by simply asking that the seller assume a certain amount of the morgage without including any details. Let him come back to you. This will give you more negotiating room.
You are testing the water without giving any numbers. Since you have no idea as to what his response might be you do not want to be the first to state numbers.
My last purchase I asked for a take back of $150,000 and was hopefull I could get it for 7.5%. We finally settled on $285,000 at 7.25% with a long term and very flexable conditions. Turns out he wanted a no hastle steady income. Thankfully I didn`t give details in my first offer.
With todays rates you should be able to do even better.

 

[Anonymous]

That`s a good technique. Thank you for sharing. Do you know what tax advantages the seller would have for offering a VTB? I`m trying to find out so that I can share as many benefits as possible with the seller.

Does anyone have a range of how much the paperwork on setting up a VTB would cost?

 

[DonCampbell]

Hi,

Here is a link to a great cover letter for you offer to purchase. It explains the process to the vendor in terms that allow him to win.

Enjoy and use it well:

Cover Letter Search

 

[dutch99]

QUOTE (DonCampbell @ May 30 2008, 02:15 PM) Hi,

Here is a link to a great cover letter for you offer to purchase. It explains the process to the vendor in terms that allow him to win.

Enjoy and use it well:

Cover Letter Search

 

[dutch99]

QUOTE (DonCampbell @ May 30 2008, 02:15 PM) Hi,

Here is a link to a great cover letter for you offer to purchase. It explains the process to the vendor in terms that allow him to win.

Enjoy and use it well:

Cover Letter Search

Hi Don

Could you send me the link for the cover letter. I can not seem to open the link.

Mike