Posted by Kelly on January 30, 2003 at 22:41:02:
What kind of a discount is there for a green note of say $47500 which the buyer put down 2500 (5%), with a credit score of 650 and say it appraises?
Would institutional buyers pay 75%,90% face value?What if home buyer put 10% down? What if credit score is 550? Just trying to get a rough feel for the numbers. I know some tired landlords who need to sell in this home buyers market and doing a land contract should help entice more buyers. Also,what would be a resonable commish for a newbie broker?