- This topic has 36 replies, 13 voices, and was last updated 16 years, 6 months ago by 4plexowner.
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October 17, 2007 at 6:44 PM #89775October 17, 2007 at 7:48 PM #89774daveljParticipant
Stan,
If you post your email address I’ll email you a copy of the contract.
It’s an unusual deal, however, that requires a few elements to be present. First, the seller has to be a “true believer” in that s/he believes that the price of the property is going to come back within the term of the contract. Second, the seller must have enough equity – or be able to write a large enough check at closing – to collateralize the downside protection portion of the guarantee for the buyer. And third, despite the previous two elements, the seller has to have some urgency to unload the property.
I think it’s very unusual to find all three elements present regarding a property that you’d actually be interested in purchasing. Frankly, I just got lucky.
Nevertheless, I’m happy to send you a copy of the contract.
October 17, 2007 at 7:48 PM #89782daveljParticipantStan,
If you post your email address I’ll email you a copy of the contract.
It’s an unusual deal, however, that requires a few elements to be present. First, the seller has to be a “true believer” in that s/he believes that the price of the property is going to come back within the term of the contract. Second, the seller must have enough equity – or be able to write a large enough check at closing – to collateralize the downside protection portion of the guarantee for the buyer. And third, despite the previous two elements, the seller has to have some urgency to unload the property.
I think it’s very unusual to find all three elements present regarding a property that you’d actually be interested in purchasing. Frankly, I just got lucky.
Nevertheless, I’m happy to send you a copy of the contract.
October 17, 2007 at 8:49 PM #89786NotCrankyParticipantGolgal,
I don’t think one can get a fix on what you are asking in your last post.You either make your best educated guess, wait until it seems like a no brainer or go look for a location that seems like a no brainer.
Now, I think you want to know how do you make an educated guess?
Wait until it seems like a no brainer and guess that you are right. Right now we can’t make it be a no brainer no matter how hard we try. But when the time is right it will be easy to see the “no brainer” aspect.I know that is too flippant…I think it works as good as being smart does.
October 17, 2007 at 8:49 PM #89795NotCrankyParticipantGolgal,
I don’t think one can get a fix on what you are asking in your last post.You either make your best educated guess, wait until it seems like a no brainer or go look for a location that seems like a no brainer.
Now, I think you want to know how do you make an educated guess?
Wait until it seems like a no brainer and guess that you are right. Right now we can’t make it be a no brainer no matter how hard we try. But when the time is right it will be easy to see the “no brainer” aspect.I know that is too flippant…I think it works as good as being smart does.
October 18, 2007 at 5:31 AM #898294plexownerParticipantgolfgal – I will be timing the bottom in part based on what joe 6pack and associates are saying about real estate
when an actual bottom in our real estate market occurs, Mr 6pack will be extremely negative about the idea of buying real estate
instead of berating you for being a fool by throwing your money away on rent, these ‘experts’ will now be berating you for even considering putting your hard-earned money into real estate
at that point buy as much real estate as you can
October 18, 2007 at 5:31 AM #898374plexownerParticipantgolfgal – I will be timing the bottom in part based on what joe 6pack and associates are saying about real estate
when an actual bottom in our real estate market occurs, Mr 6pack will be extremely negative about the idea of buying real estate
instead of berating you for being a fool by throwing your money away on rent, these ‘experts’ will now be berating you for even considering putting your hard-earned money into real estate
at that point buy as much real estate as you can
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