Trying to buy condo from my landlord
Started by anonymous
over 11 years ago
Discussion about
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Hello, I am currently in a condo sublet and my landlord (who is the owner of the apartment) is willing to sell it to me. She is also willing to do owner financing, but she has an existing mortgage. Agreed upon purchase price is $400,000 Her outstanding mortgage is $240,000 She is willing to finance the remaining $160,000 but her RE attorney said the bank will not allow it I only have 3-5% to put down, and i'm not going the FHA route. Any suggestions or creative solutions? Thanks a lot!