Re: How to StructureOwner Finance Deal - Posted by DJ (TX)
Posted by DJ (TX) on April 22, 2006 at 21:48:32:
Okay, I scowered the legal archives and succeeded in thoroughly confusing myself. I searched under Contract for Deed, Lease Option (in Texas), even Bronchick. I found a few posts, some of which said lease options are now regular land contracts (requiring foreclosure) and others that said you could still do them.
As for contract for deeds, apparently there are major fines in Texas if you so much as forget to give the buyer a disclosure, survey, etc. But others say it’s easy.
So basically I still don’t know what would be best. Most of those posts have to do with SFR’s, not manufactured homes. Are the rules different for them or less restrictive?
Anyone care to tell me which one they would do (CFR or L/O) or if there is another option I haven’t heard about???
Again both the land and doublewide MH are owned free & clear and I want to sell it owner financed using whatever method would be easiest to get the home back QUICKLY (avoid foreclosure)in the event the buyer stops paying.
Any advice regarding options in Texas would be appreciated.