how to finance for personal residence

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Posted by dontjustrent on November 18, 2009 at 13:11:58:

I am trying to buy a house (for myself/as owner not investor) where the owner will finance. He is waiting for my offer. what I want to do: (please help me out)
He wants $700k and is willing to finance for many years. I know I can get him down by bringing up what a realtor will charge, plus title, transfer,etc. fees. So in reality he will end up with lets say $600k and some change.

How can I pay less for the house while at the same time giving him more? How can I set it up where lets say I pay $650 and he gets those $650k? I will pay closing or whatever I have to do. he is open to any ideas.

bottom line, how can I pay less while he receives more?

Thanks everyone for reading this far. Hopefully you have some pointers/ideas for me.

Thank you!

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