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Q: "Creative Financing" for Purchase of Beach Home in Mexico ( No Answer,   0 Comments )
Question  
Subject: "Creative Financing" for Purchase of Beach Home in Mexico
Category: Business and Money > Finance
Asked by: californiantirol-ga
List Price: $10.00
Posted: 17 Jul 2006 13:05 PDT
Expires: 16 Aug 2006 13:05 PDT
Question ID: 747140
I'm making an offer on a beach home in Baja, Mexico. The seller has
agreed to a $400k sales price and wants $130k down. They've asked me
to propose a payment schedule for the remaining balance--and they
won't give me any guidance.

I know that anything is negotiable, and I'd like to propose the best
possible deal for me without being outrageous enough to alienate the sellers. I
know this is a completely subjective question, but any
recommendations on payment terms would be appreciated.

(My intention is to sell either part or all of the property within 5 years.)

Clarification of Question by californiantirol-ga on 17 Jul 2006 13:06 PDT
Please no general opinions on the advisability of buying real estate
in Mexico. I've done my due-diligence, I'll have title insurance, I
understand the risks, etc.

Request for Question Clarification by gregaw-ga on 18 Jul 2006 16:00 PDT
Are you paying interest?  What rate?

So you want to pay as little as possible before selling it off.  Is that the idea?

Do you plan on paying the balance after you sell the property?

I want to understand you intentions before making a recommendation.

Thanks!
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