50 Unit Apartment Complex Texas
LOI sent to seller with 3 options. 1) Cash Offer. Seller did not go for cash offer. Option 2) Owner Finance Mortgage Purchase Price - 4,523,889 Down Payment - 226,194 Interest- 2.6% (Simple Interest) Term - 120 months Balloon payment at end of the term for remaining balance Counter Offer from Seller; Amortization schedule for a 5 -10 year ( our choice) Balloon loan with 6.65% interest( very close to what current market is) Down payment substantial enough to cover at least broker's commissions. Which at 6% for commissions on 4,523,889 will be 271,434 This is a very good counter offering my opinion. Let me know your thoughts.