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Old 10-09-2019, 01:38 PM   #90
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City: st pete
Country: usa
Vessel Model: 400 Mainship
Join Date: Sep 2016
Posts: 2,205
Originally Posted by dhays View Post
We bought our condo slip that way. It was a bank foreclosure and they just wanted to be rid of it. It was during the height of the recession and banks didnít want to loan on anything out of the ordinary. We made a cash offer at a ridiculously low price. The bank jumped at it to get it off their books ASAP.

Generally, I think that is an unusual situation and most sellers donít care about cash buyers or not unless the seller is in a hurry.


True, most sellers don't care. But there's enough that do and there's some really hungry ones occasionally.

I really like the nothing down, take over existing 3% loan, and seller carry balance at 0 percent for 10 years. And, yes, there are deals like that out there.

When ya save $50K in interest and equity it could be worth working hard for it. That's more than a whole weeks pay for most of us.
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