Posted by jeff thomas on August 17, 2003 at 16:11:26:
Without knowing the details of the deal I can give you only some general info. It’s called seller financing. Typically the seller carries back a 1st mortgage against the property for the purchase price minus your down payment. That mortgage can be sold… but at a discount… The amount of the discount depends on several factors such buyers credit and equity and even the value of the property, etc…
If you want to structure a deal and the seller is interested give me a shout pbj31@charter.net