seller financing - Realtor problems - Posted by Donna
Posted by Donna on April 09, 2007 at 11:15:57:
I have had two deals where the seller was willing to offer seller financing with very little down. Twice now, the Realtor has come in and talked the seller out of it because of the possibility of the “due on sale” clause being called. WHat can I do to thwart these Realtors, or convince these sellers to move forward with the deal. I do agree that it is possible that the clause could be accelerated, but how often has that really happened, especially if the payments are made on time? In today’s market and with all the foreclosures, I tell the Realtor and seller that no lender is going to go looking for more problems. Still, the deal falls through. These are homes that have been sitting for 6+ months vacant and the sellers have consistently dropped the price. Any suggestions for what I can do to make these deals move forward? Also, I have looked into possible Land Trusts, but living in Arizona, I am told they are not a viable option.
Thanks for your help.