14d • I GOT A DEAL!
50 Unit Apartment Complex Texas
LOI sent to seller with 3 options. 1) Cash Offer. Seller did not go for cash offer. Option 2) Owner Finance Mortgage
Purchase Price - 4,523,889
Down Payment - 226,194
Interest- 2.6% (Simple Interest)
Term - 120 months
Balloon payment at end of the term for remaining balance
Counter Offer from Seller;
Amortization schedule for a 5 -10 year ( our choice) Balloon loan with 6.65% interest( very close to what current market is)
Down payment substantial enough to cover at least broker's commissions. Which at 6% for commissions on 4,523,889 will be 271,434
This is a very good counter offering my opinion.
Let me know your thoughts.
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21 comments
50 Unit Apartment Complex Texas
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