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re: Profit or Pitfalls of Seller Financed Home Sale
Posted on 12/4/17 at 5:27 pm to ynlvr
Posted on 12/4/17 at 5:27 pm to ynlvr
Why do they want seller financing? That's usually a huge red flag. If they have 10% and can pay it off in 10 years then they should be able to get a loan unless they have horrendous credit or something in which you don't want to be their lender.
Generally speaking the only reason to do seller financing is because you as the seller can set up great terms for yourself.
Generally speaking the only reason to do seller financing is because you as the seller can set up great terms for yourself.
1
Posted on 12/4/17 at 5:36 pm to baldona
Thanks. I'll keep in mind that this is most likely a risky loan that does not qualify for standard financing and price accordingly. I haven't met the buyers yet. I just received the first sniff today. I suppose i will have to do some strong due diligence. I realize I will need to construct a strong contract to protect myself as much as possible. Whatever that entails.
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