'Equity loan' by seller on property that is sold on an "owner carry" sales contract.

[ADBunting]

'Equity loan' by seller on property that is sold on an "owner carry" sales contract.

What is the name of your state? Nevada

If you were a lender and someone who "sold" a property on an owner carry land purchase contract came to you wanting to obtain an "equity loan" on it, even though they have a sales contract/owner carry in which the buyer has made a sizeable down and monthly payments, would you legally be able to finance that loan?

Thanks

Sue

 

[nextwife]

A person who is BUYING under a recorded Land Contract has a "vendee's interest" in the property. I know of no lender that will lend the vendor under those circumstances, but a loan on the vendee's interest is possible. I've also seen loans on leasee's interests, on commercial properties with long term leases..