| Why Appraiser Is Linch Pin in Every Deal And How to Creatively Finance a Deal |
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I get asked by many real estate investors if I can make their desired deal work and many times I say it is contingent on the appraisal. Many deals with the seller assisting the buyer to purchase a property like in the instances of a credit at close, or vendor take back mortgage, seller incentives are justification for the buyer to pay a premium on the property and incentivizes the seller to leave some "money on the table".
However, the deal won't work if the lender will not agree that the price that was made between the buyer and seller is at "market price". What does market price mean? Well it is a sale between unrelated parties in an open marketplace where either buyer or seller have no unusual pressure to transact, like a seller going bankrupt or buyer that has flown into the city to buy that day and must buy that day.
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$239,000 is amazing value for this new end unit townhouse with 2 bedrooms plus finished basement with 2 full baths and brand new laundry room. Double car garage for him and her!!! Call me. |
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This gorgeous 3 bedroom is backing on conservation land, has tenants that pay more than half the mortgage, cathedral ceiling in the living room, hardwood floors, 2 separate laundry rooms, wow at $420,000! Call me. |
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Live upstairs in this 3 bedroom bungalow with a huge lot and parking while tenants pay your mortgage living downstairs in a 2 bedroom apartment, CREATIVE FINANCING IS A POSSIBLITY!!! Call me. |
| Cash Flow Game Night Reminder |
Date: August 12, 2010
Time: 5:30 - 8:30pm Location: Century 21 Green Realty Office 151 Superior Blvd Units 19, Mississauga Cost: $4 to cover cost of pizza and drinks Refreshments will be available |
