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 followI own 11 acres outright, no mortgage on it. A buyer offered close to asking but said he can't get a bank to touch raw land, and asked if I'd take payments over 8 years instead. I…
Seller I do listing work for owns a side by side duplex free and clear, both units rented, asking 340k. Two conventional offers fell apart on appraisal and financing, and the thir…
I manage other people's rentals for a living and I sold one of my own on my paper this spring. Nine years of owning a plain 2 bed 1 bath, about 900 square feet, three blocks from…
Closed last week on a carry I've been building for two months and I already have a problem I didn't write into the note. The deal: 3/2, 1,450 square feet, full gut, sold at 312k.…
I've been reading in this room and in the capital section, and the phrase that keeps coming up is that seller financing is taking off because rates are high. Makes sense on paper.…
Closed three weeks ago on 34 acres of raw land I'd sat on for nine years, no debt against it, taxes about 1,400 a year. Price 168k, buyer put 25% down (42k), I carry 126k at 8.5%,…
I'm looking at selling the shop building my crew works out of and leasing something cheaper across town. Free and clear, no mortgage. The buyer who's most interested runs a simila…
I'd rather be on the lending side than the owning side, and this was how I got there without buying anybody else's note. I sold the one rental I owned and kept the loan. The prope…
Sold a small two bedroom house I'd owned outright. 62,000 note, 8%, twenty year amortization with a ten year balloon, payment worked out to about 519 and we rounded it to 520. Att…
I was reading through a note form a friend used on a carry-back and the prepayment section was one line: borrower may prepay in whole or in part at any time without penalty. Which…
I split 61 acres into five lots after plat approval, put in a gravel access drive and one culvert, and sold three of them on my own paper over about fourteen months. 78k, 84k and…
I'm about to carry paper for the first time on a small parcel, 68k price, 14k down, so a 54k note at 8% over 15 years with a balloon at year five. Everything I've read is about wr…
Two rentals sold as a package, both small, both tired but functional. 465k. Buyer put 10% down, 46,500. I carried 418,500 interest only at 7.25%, 2,528 a month, balloon at month 2…