Seller financing, also called owner financing, is when the property owner acts as the lender: instead of the buyer borrowing from a bank, they make payments directly to the seller over time under agreed terms.
Log in to followRead something that said if you originate more than a couple of owner-financed loans you become a mortgage lender and need to be licensed, and that there are rules about balloon p…
Buyer came in on a 3/2 in a stable working class pocket, nothing special about the house, I've owned it free and clear for years. He wants a 30 year amortization with a 5 year bal…
Writing this out because everyone told me owner financing was the easy way to sell and I believed them. Background for anyone new like I was. Seller financing means I sold the hou…
I own a small rental free and clear, inherited it, and I'd honestly rather have a monthly check than a pile of cash I have to figure out what to do with. Two people have asked abo…
I'm building a list of small houses to rehab and I expect at least a few of them to sell with me carrying the paper, because plenty of my likely buyers won't clear a bank right no…
Selling a renovated fourplex I own free and clear. Buyer is a contractor, decent operator, thin on liquid cash. Terms we're circling: $425k price, $85k down, $340k note at 7.5%, 3…
Tenant of five years asked to buy the house. Never late, not once, has the rent receipts to prove it. We've talked around 410k, she can put 41k down, and she can't get a bank loan…
I've got a small three bedroom in a working class part of town, owned free and clear, and a buyer who can put 12% down but can't get a bank to look at him. He's self employed, two…
I've got a mixed-use building I'd sell tomorrow if the buyer could get a loan. He can't, he's self-employed two years and every bank wants three. He asked about owner financing an…
Eight units, brick, all one and twos, I own it free and clear and have for six years. Gross scheduled rent is about 96k, NOI last year was 58k after real management and real capex…
A delinquent tax notice landed in my mailbox in March. The county still had me as the mailing address from when I owned the place, so a bill for a house I sold two years ago came…
I set the interest rate on a note I carried by feel and it cost me somewhere around 17,000 when I needed the money back. The deal. Small 2 bed 1 bath rental, about 780 square feet…
I'm getting close to selling a small brick fourplex I've owned since 2014, no debt on it, and I have two live conversations. Both want me to carry. I've spent the last three weeks…
I'm walking through the math on selling one of my smaller buildings on my own paper in a year or two, and the down payment is the piece I can't settle. Argument for wanting a big…
I've got two live offers on a 40 acre parcel I've held about nine years, no debt on it, listed at 265k. Buyer A puts 20% down, 8.25%, amortized on 25 with a 7 year balloon, and hi…
Trying to figure out the actual line items on the seller side. My understanding is I hand over a deed, get a note back, and then money shows up monthly. That can't be free. So: wh…
I have a 1.1 acre vacant lot I've been trying to sell for 95k. Been listed nine months, two lowballs, and now someone wants it for the full 95 if I'll take 10k down and payments o…
I've got two parcels I'll probably sell in the next couple of years, both held free and clear, and I've been reading sample notes to figure out what I'd actually want in one. The…
I'm winding down a small service business and I also own the building it runs out of. My accountant used the phrase installment sale when I mentioned carrying paper for the buyer,…
Four unit, bought at 415k, put 90k into it, all four units now leased at market. Two offers, both bank contingent, both wobbly on the appraisal because there is not much comparabl…