I am in contract for the purchase of a multi-use property in TX for $4,500,000. Loan and down payment are lined up. I’m cash poor, and had a cash partner for the EMD, which I negotiated down to only $10,000 . Now that I need to deposit the money, the cash guy backed out (in fact, he spent the money on a car). The property has a RV park (100% full with long term tenants) and water sales to oil companies. It nets $500,000 a year (before loan payment).
I’m offering to pay back $15k soon after closing, or I might be able to arrange payment out of escrow. Or I can make monthly payments, if you would prefer. This is a very important deal for me and my family, and I don’t want to lose it. The money can go straight to the escrow company, so you can rest assured I won’t disappear with it.
This is very urgent, I only have a few days or the seller will cancel the deal. Please help!