From experienced investors; I like to know is it possible and how to obtain property control from a FSBO who wish to sell?
The owner is willing to do owner financing. I have a handyman interested in the property.
Should I seek to get the owner a cash offer?
If owner decides to continue with the financing, will I be structure in the deal? or seek a finders fee from owner?
My concern is, what is the best ethical and professional way to move forward with the project?
Any and all suggestions will be appreciated.
If I have posted to the wrong forum, I apolized, please direct me.
Not sure what you are trying to do. Are you trying to wholesale it to your handyman? What does the seller want and what is your handyman willing to pay?
If this were my deal, I would fully disclose to the seller your intentions and contract (with contingencies) to buy at your best negotiated price and terms and provision to replace your higher contract of your buyer/handyman in exchange for the current owner/seller to pay you the difference via invoice.
Once the transaction is complete, you can secure your position, if your invoice includes terms, with a commercial lien on the property via UCC 1 filing.
Full disclosure will let you know up front if you can accomplish your goals. If the parties object, then find another property to work with that will suit your needs and accomplish your goals.