Posted by Michael Morrongiello on May 28, 2000 at 13:53:41:
Technically you are correct, at the time the AD is being run you would not be the owner of the property. You would have only the right to purchase it from the CURRENT owner who is under contract with you.
However WHEN the actual sale takes place and you are given a deed, you are THEN the owner even if only for an instant. Of course you would then immediatly sell the property to the ulimate “retail” buyers who intend to occupy the home as their primary dwelling and who entered into a contract to purchase the home from you.
IF you are uncomfortable using “Owner Will Finance” in your AD, then use “SELLER will Finance”, in any event you can also always disclose that you are not the owner at this time but will be at the time the home is sold to them as the buyers.
To Your Success,