HELP on note structure!!!!!! - Posted by mike

Posted by mike on January 26, 2002 at 21:24:06:

I own 2/1 single family home free and clear. It FHA appraised at 49K and the home is in EXCELLENT condition. I have had several people want to buy the home if I would finance it to them. Many people have had 5-6K for a downpayment. Here are my questions?

  1. How does a notebuyer determine value of property and would it be close to my FHA appraisal price?
  2. What kind of terms should I structure to maximaze my return when I sell this note?
  3. How long should I let the note season before I sell it and how much discount would I expect if I sell it right away?
  4. Would anyone like to buy it when I am done?