Legal Question in Real Estate Law in Arizona

I am a seller doing a short sale of a rental property, and we have 30 days until close of escrow. The MI company is requesting $7500 cash or a 15K promissory note payable at $250 per month for 5 years with no interest. The question is should I pay the $7500 cash which will wipe out my savings account or agree to the $15k prom note and try to re-negotiate later for a lower cash settlement.


Asked on 1/22/10, 6:28 pm

1 Answer from Attorneys
Lance Davidson Lance S. Davidson, P.C.

Try to renegotiate now, if you cannot suffer depletion of your savings. Lance Davidson 480-860-9390

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Answered on 1/28/10, 12:41 pm


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