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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: The Wharf who wrote (30694)	5/4/2005 7:03:02 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

If you do not need the cash and the fellow is a good risk you might think about carrying the mortgage yourself. We've suggested that we might offer him that option. He wants a regular mortgage company (it's an old friend buying the place) and my husband wants the cash (so he can sink it into another piece of RE, I suspect), but it might come down to that. At least it would keep John from putting the cash back to work in RE at these ridiculous levels. If we finance him it would minimize the immediate tax consequences, which are considerable, since the property has a very low basis and is almost completely depreciated.