Can This Deal Be Done?
I am an wholesaler and new at this. I just had an offer on an property that is condemned on assignment. The offer is a down payment of $3000-$300/mo till paid off-$7000 on balance. Question- The owner gets $5000 (originally). However, I am willing to take $3000. Which will allow the owner to receive $7000, but the owner will receive payments on a monthly basis instead. I don't think the owner will have a problem with this arrangement , but can this type of agreement be done. I understand that the buyer will not get title and deed till paid in full. Please ,please your input would be greatly appreciated. Thank you in advance. 
I think you are talking about creating a note, but the details of the deal are confusing me. Could you try refrasing it, maybe separate each part of the deal like
1. seller gets
2. you get
3. buyer wants
Sounds like he agreed to buy a place for 5K.
He now has an offer from someone to buy it for 3K down and 300/mo for basically 24 months.
Sound right?
Sorry, that I was not clear. The buyer wants to buy an condemned property for $10,000. I ,the wholesaler has an assignment for $5,000. The buyer offered $3,000 down and $300 a month till balance is paid in full. So, I am willing to take $3.000, instead of $5,000.That will give the owner $7,000,instead of $5,000. I am sure the owner will agree to this deal. Can this be done and how? Thank you in advance.
Quote:
That will give the owner $7,000,instead of $5,000. I am sure the owner will agree to this deal.
Well from what you've said, s/he'd have to be STUPID not to accept an additional $2k. He already agreed to sell for $5k, now you'll want to let him have $7k?
OH, now I think I understand. To get the extra $2k, s/he needs to take this on a note.