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re: Legaility question regarding selling a house for more than its worth
Posted on 3/7/15 at 1:44 pm to I Love Bama
Posted on 3/7/15 at 1:44 pm to I Love Bama
quote:
Unfortunately, I KNOW what it is worth. The other party is uneducated and uninformed. Trust me, I want this to be legal but it seems very predatory. I've asked this question on other forums and it seems to be split 50/50.
A house you are owner financing needs to be sold at a higher price. You are doing them a huge favor.
If you are weak enough to feel guilty, throw in free carpet or appliances.
Posted on 3/7/15 at 2:10 pm to GeeOH
quote:
If you are weak enough to feel guilty
![](https://images.tigerdroppings.com/Images/Icons/IconLOL.gif)
Fair enough.
Posted on 3/7/15 at 2:30 pm to GeeOH
quote:
A house you are owner financing needs to be sold at a higher price. You are doing them a huge favor.
People owner finance when they can't get traditional financing. As it is, they get charged a higher rate of interest. and, owners command a higher sales price.
This is why I truly don't understand why anyone does this as a borrower. Spend a couple of years getting your financing in order so you can get traditional financing. Getting owner financing at a higher rate and higher cost is simply going to cause more financial problems for the borrower in the long run.
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