Posted by brandoncbsre on May 06, 2008 at 16:00:47:
In Reply to: creative financing posted by jimcw on May 05, 2008 at 18:24:48:
Pay what it is worth today.....tomorrow may never come. If I did anything I'd try for an option. If the appraisal came in that far off then I wouldnt imagine it will cashflow or breakeven for that matter. Therefore you will have to feed it to keep and there arent too many banks out there that are gonna like that. Especially if the seller is holding a second, because if you get tired of feeding it the lack of skin in the deal would make it pretty tempting to walk.