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04-13-2010, 11:30 AM #1
Renter
- Join Date
- Apr 2010
- Location
- Eureka, Ca
- Posts
- 1
Owner Carry and Finance Questions.......
Hello everyone...
There is a home the it going to be finished in about 2 to 3 weeks. Its in my hometown were i reside now.
Owner is willing to carry as a first...
HERE IS HOME INFO
Appraisal 1,400,000
Purchase Price 1,050,000
Owner will carry with 400k down.
I have 200k which isn half the down.
Is there any ideas as to how to fund the rest of the down payment for 200k?
second mortgage?
Partner?
anything?
The owner/carrier is a local man that has been in the area his whole life. He is very wealthy and would only want the 650k we would owe him if a default were to occur.
There would be so much equity the second mortgage would be paid for sure.
What are some ideas thanks



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