Posted by phil fernandez on December 05, 1999 at 20:00:19:
Offering owner financing is certainly the way to go for the quickest possible sale. If the 10% downpayment requirement is the roadblock why not structure the deal this way :
sale price $82,500
downpayment 4,125 5% instead of 10%
create 1st $66,000 80% sell at closing
create 2nd $12,375 15% keep and receive payments
You will get more traffic offering the owner financing with a 5% downpayment vs a 10% downpayment. Furthermore you could sell the 1st you created for cash at the closing table with not a large discount because of the 80% LTV.