Owner Financed

Memphis contract assignment | 7000 Wesley Ct | 5% seller financing

7000 Wesley Ct, Memphis, TN 38119

$120,000 After Repair Value -
$110,000 Asking Price -
$0 Cost of Repairs =
$10,000 Potential Profit

Property Details

Asking Price $110,000

After Repair Value $120,000

Costs of Repairs $0

Potential Profit $10,000

Living Area 966 ft2

Property Type Townhome

Bedrooms 2

Bathrooms 1

Half Bathrooms 1

Parking 0

Listed with Agent No

Property Description

I have 7000 Wesley Ct, Memphis, TN 38119 under contract and am offering an assignment to a buy-and-hold investor.

2 beds / 1.5 baths; approximately 966 sq ft; built in 1983
Underlying purchase price: $110,000, plus $5,000 assignment fee
$5,000 down to seller; $105,000 seller-financed at 5% fixed, fully amortized over 15 years
$830.33 monthly principal and interest, excluding taxes and insurance.
Entry funds: $10,000 for down payment and assignment fee, plus closing costs and prorations
EMD: $100
Prepayment penalty: 3% of remaining principal in year 1, 2% in year 2, 1% in year 3; none afterward
Buyer pays typical closing costs for both parties. Assignment requires seller’s written approval; LLC buyers must provide member personal guaranties. Property is sold as-is. Buyers should verify property details, condition, occupancy and rental figures.

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troy blanchard

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