I have a 1355 sq. ft. 1987 Kaufman & Broad double-wide in a park with a $55,000 appraisal on it and I have a buyer for $57,000.
The buyer has $25,000 cash and wants to buy it, but since he just started a new job (commission), he can’t seem to qualify for a loan through a lender. I owe $37,000 on this unit and am willing to carry a small second for 3-5 years.
Does anyone have any ideas on how to put this together?
It would require about $16,000 cash to clear off the existing loan and pay closing costs and give me a few $$$$ for my expenses. I would be willing to carry a balance of $16,000 for 3-5 years.
Thanks,
Dave Roekle
FSCi, Inc.