Can this be funded? Com biz w/ property owner will carry 50%

I’m interested in purchasing a cocktail bar with all permits/licenses in place and comes with the real estate. Property is being sold for much less than its worth and the owner is willing to carry 50% of the note. Asking price is 900K. My fica is 665. Can this be funded?

Seems doable to me. Local bank type of deal.

Yes it can be funded.

How much are you able to put down? A lender isn’t going to fund 50% and the seller fund 50%. The lender will want you to have some “skin” in the game.

I would check with a local bank for their rates & terms, but I don’t think they will allow the seller to fund 50%. That might allow 5%.


Not true. Maybe your bank won’t do this but that doesn’t mean it can’t be done. My bank does this for me on a regular basis. Having your name, reputation, credit, integrity, etc. is more than just ‘skin’ in the game.

Don’t let this post keep you down RightField.

My previous post was not meant to give you a realistic response. With a FICO of 665, an asking price of $900K and I’m assuming your 1st commercial purchase–I think it will be challenging to find a lender that will loan you $450,000 and allow the seller to fund $450,000 for a bar.

Check with a few local banks and see what type of programs they have available. Then move on to the larger, national banks. The smaller local banks will be willing to work with you more so than the larger banks. The type of programs available will depend a lot on the local real estate climate.