Posted by Jake on February 05, 2002 at 23:55:50:
What is the credit like for the individual buying the property?
If you feel you need assistance in getting this done right, email me realdeal4092000@yahoo.com I can help.
Accepting an Owner Finance Offer - Posted by Christine
Posted by Christine on February 05, 2002 at 16:01:10:
I am selling a multi-family property. It is listed with a realtor. I received an offer today. The offer is $140K with 10% down, 8.5% interest over 2 years with them paying me $970.00 a month. I owe $82K and my payments are $905.00 a month. How do I pay the realtor commission? What happens if the buyer misses 1 payment, does the property revert back to me? The buyer is a real estate agent, so I am not sure if this is a good deal or not. I want to take it because I have two vacancies and I would like to not have this note every month. Is there anything that I should do to make sure I am protected and also do I have to tell my mortgage company (Homecomings) that I am doing an owner finance sale? Should I rely on my real estate agent to handle the paperwork regarding the owner financing part? Thanks for your help.
Re: Accepting an Owner Finance Offer - Posted by Jake
Posted by Jake on February 06, 2002 at 01:47:42:
I’ve located a document that my interested you. Send me an email with the file format you can accept and I will send it to you. realdeal4092000@yahoo.com