job transfer : how would you structure

[verbatim 1]

Seller relocated out of town with her job & is stuck with a 875 note.

 

It’s a 3 bed 2 bath no repairs needed – nice house nice area

Appraised at 147 2 yrs ago

Now comps around 125

She will list it for 120k for a quick sale

Owes 94k

I’m guessing she’d net 10k after getting around 104 if she went the realtor route

But she doesn’t want to have it sit for months to sell.

 

She’s open to a 3 year l/o where I cover her note but I haven’t given her any terms if I decide to go that route.

 

What kind of offer would you make to her?

 

Any help offered would be greatly appreciated.

 

Thanks

[Jonathan RexfordFL 8]

Option for mortgage balance. What will it rent for each month? If you say a 1K per month then I am shooting for 750.00 and if I want cashflow I would take that off of that.

[<Steve> 82]

She seems motivated. What is the lowest price she "needs?"

 

If its $94K or close to it seems to be a decent spread. If you can net a positive 10% to 20% monthly from rent, it may make a good SLO.

[MichaelC 160]

What's already been said. How much is the market rent for the house? If it cash flows, get a long term lease with option, locking in a price for $95K to $100K. Gives you some equity, and any appreciation that may occur over the duration of the agreement. If the numbers are right you can't lose.