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REAL ESTATE Where do you start with negotiating?

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Bronze Contributor
Speedway Pass
Jul 26, 2007
I am looking at writing up an offer (different property than the cash at closing one) and the owner is willing to finance. He wants me to go first as far stating terms. I have never done owner financing before and am unsure of how to frame my offer without insulting the guy. I was thinking of starting at offering full price ($85k) with 5% down, at 5% over 30. Any thoughts?

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Be in the Moment
Speedway Pass
Jul 24, 2007
I say go for it...

It is a starting point, and if he doesn't like it, he will show you what he would like.

I personally would never loan out money at 5% - but he might surprise you.

I recently asked for an owner carryback at 7% on a commercial property.

They accepted - I never thought they would.

So.... ask for what you want!


New Contributor
Jul 25, 2007
My first thoughts would be:

1. What do you WANT?
2. What do you NEED?

Write those numbers down, then we can start talking about what your offer might look like; having a 'range' makes things a little easier for both of you; you don't give away the bank and shortchange yourself, and also help to meet what they're looking for.


Bronze Contributor
Speedway Pass
Jul 26, 2007
what I would need

Good questions. I would need: for the rents to cover the mortgage. So based on that, the price is right. I need help with money at closing- I would need to furnish the place as well as install some sort of alternate heating source, and of course any downpayment assistance would be great! So, I would say that I need help with about $7k-$10k in the form of cash at closing.

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