Pretty simple. Buyer (new owner) makes mortgage payments to seller (mortgagor).suzguy said:what is involved in owner financeing for buyer
suzguy said:What is the name of your state? AR
what is involved in owner financeing for buyer
what would be a fair down payment % interest rate no of yearsJETX said:Pretty simple. Buyer (new owner) makes mortgage payments to seller (mortgagor).
Was there maybe something a little more specific you were looking for???![]()
suzguy said:what would be a good down payment /interest rate/how many years
would i be able to sell property borrow on property
what is term contract for sell mean verses morgage property
suzguy said:what would be a fair down payment % interest rate no of years
pojo2 said:Depends, do you have lousy credit, then large down payment and high interest rate (possible double digit).
Are you talking rent to own, land contract or contract for deed or true owner finance?
If the seller has a mortgage on the property then you are NOT talking owner finance more than likely.
Please do not be a fool before you understand exactly what is being offered to you. If it is truly owner finance do NOT skip an inspection or appraisal and get an Atty to look over the paperwork and explain it to you BEFORE you make a very costly mistake.
Clarify for us that you ARE talking about owner finance and tehne we can answer more accurately.
Thanks I appreciate your helppojo2 said:Depends, do you have lousy credit, then large down payment and high interest rate (possible double digit).
Are you talking rent to own, land contract or contract for deed or true owner finance?
If the seller has a mortgage on the property then you are NOT talking owner finance more than likely.
Please do not be a fool before you understand exactly what is being offered to you. If it is truly owner finance do NOT skip an inspection or appraisal and get an Atty to look over the paperwork and explain it to you BEFORE you make a very costly mistake.
Clarify for us that you ARE talking about owner finance and tehne we can answer more accurately.
suzguy said:Thanks I appreciate your help
RJPETE said:You will be judged one day and you will not like what you see.
CalifAtty-17 said:My response:
Stupid, religous, people bug me. Count yourself in.
IAAL
RJPETE said:I see you are new here. From what I can tell, you'll fit in just fine. Your attitude is typical of this site. I feel sorry for the owners who developed this to help others only to have it ruined by obnoxious arrogant people such as yourself.
suzguy said:Thanks I appreciate your help