Craigslist is where you'd sell your $1.7m home right? What could go wrong? Read the description:
We are in Lake Sherwood and have this amazing home for sale. We are building in Malibu, and will be moving soon. We know its hard to find financing these days so we are offering a A.I T D. It is a wrap around financing, and will allow you to take title of our home, and you can refinance with in 5 years. We will leave the 1st, and 2nd Trust Deed in our name, and you make all the payments. You are on title, so you own the property!!
To get into a home like this you need full employment documentation, Bank verif's for down payment, and at the Minimum, 30% down.
Here is what we are asking!!!
We owe $1,400,000
Home appraised in december 2007 $1,790,000 (but we will get an updated appraisal. Comps are at 1,600,000 right now)
You Assume the 1st TD at 1,200,000 (payment $5,900)
You Assume the 2nd TD at $200,000 (payment $700)
You pay the Balance to us $175,000. (we would accept a $100,000 payment now, and $50,000 in 4 months)
That's less then 10% down, and no qualifying!!!!!
For more details and to set up an appt to see it, just call.