Have a buyer with 20k-30k down
bankruptcy 2 months ago
Settlement money from lawsuit win.
only had medical bills and credit cards before filing bankrupt.
wants to pay no more than 85k total and $550 per month(this could work in my area)
she wants to lease option a property from my company
My question is , how much should i try to get down? I do not want any amount i receive to come back and haunt me later.
ANY advice would be greatly appreciated.
green acorn,
Glad to meet you.
Did your potential Buyer declare this windfall money was coming in their BK filing?
If not seems the government might want to know how she purchased this property, albeit a Lease/Option and you had knowledge of her BK.
Just something to think about.
John $Cash$ Locke
Thanks CASH. We will get more documentation on this. I never thought of that situatuion.
If she did let them know what would be a satisfactory payment for consideration money. I know its hard without deal details but i was thinking 8-10%.
Thanks Again
With a good down buyer should be able to get a loan and buy you out.Wouldnt that be better?.