Comments on: Owner Financing Doesn’t Mean you must sell by Owner http://owner-financing.com Owner Financing Primer Sat, 10 Sep 2011 15:04:55 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: admin http://owner-financing.com/owner-financing-doesnt-mean-you-must-sell-by-owner/comment-page-1#comment-973 admin Sun, 03 Apr 2011 14:29:33 +0000 http://owner-financing.com/wp/?page_id=20#comment-973 In my opinion the chances of the deal(s) you describe working out range from slim to none. You are counting on a buyer who has already trashed his credit to find a paying tenant and send the money to you. What happens if that tenant doesn't pay? What happens if the house needs an expensive repair? Who pays for it? Who arranges for the work to be done? If there is an insurance claim who files the claim, who does the insurance company make the check out to? I think it would be much cheaper to sell at a loss and move on. If you have gains in other assets you might be able to sell them and net the long term gains and losses. In my opinion the chances of the deal(s) you describe working out range from slim to none. You are counting on a buyer who has already trashed his credit to find a paying tenant and send the money to you. What happens if that tenant doesn’t pay? What happens if the house needs an expensive repair? Who pays for it? Who arranges for the work to be done? If there is an insurance claim who files the claim, who does the insurance company make the check out to?

I think it would be much cheaper to sell at a loss and move on. If you have gains in other assets you might be able to sell them and net the long term gains and losses.

]]> By: Miguel http://owner-financing.com/owner-financing-doesnt-mean-you-must-sell-by-owner/comment-page-1#comment-972 Miguel Sun, 03 Apr 2011 11:48:03 +0000 http://owner-financing.com/wp/?page_id=20#comment-972 I am researching on owner finance and discover your site. I am selling a rehab home I own outright. My break even price is higher then what the current market is at. I found a buyer with bad credit that really wants me to owner finance or lease to own. The current home is in the husband name and the wife doesnt have good credit. They said they will rent thier current home and use the income to help lease my home. I am considering lease to own because it may be easier to kick them out as a tenant then a foreclosure. I want them to give me a non refundable $20k deposit (tax return), and then structuirng a lease to own deal. Is this the proper way to go. Sale price would be $210-20k deposit. They will need to finance about $190 minus the credit they accrue for leasing the home. One more twist, I can maybe do a house swap with them, but my house is the better house and they would still have to mortgage about 190k to make it work. Thier house is worth between 130-150k. they owe about 126K I am researching on owner finance and discover your site. I am selling a rehab home I own outright. My break even price is higher then what the current market is at. I found a buyer with bad credit that really wants me to owner finance or lease to own. The current home is in the husband name and the wife doesnt have good credit. They said they will rent thier current home and use the income to help lease my home. I am considering lease to own because it may be easier to kick them out as a tenant then a foreclosure. I want them to give me a non refundable $20k deposit (tax return), and then structuirng a lease to own deal. Is this the proper way to go. Sale price would be $210-20k deposit. They will need to finance about $190 minus the credit they accrue for leasing the home. One more twist, I can maybe do a house swap with them, but my house is the better house and they would still have to mortgage about 190k to make it work. Thier house is worth between 130-150k. they owe about 126K

]]> By: admin http://owner-financing.com/owner-financing-doesnt-mean-you-must-sell-by-owner/comment-page-1#comment-110 admin Mon, 24 Aug 2009 03:57:01 +0000 http://owner-financing.com/wp/?page_id=20#comment-110 Where is that $360,000 coming from? If it's from a new loan that will be in first position, <strong>ahead of your owner financing</strong>, you are very exposed. If the buyer stops paying you would have to start making payments on the first to keep from loosing your second position note. I doubt that a note behind such a large first can be sold, even with a large discount, so you should plan to keep it until it pays off. If it is cash and your owner financing is in first position that sounds wonderful. Good luck. Where is that $360,000 coming from? If it’s from a new loan that will be in first position, ahead of your owner financing, you are very exposed. If the buyer stops paying you would have to start making payments on the first to keep from loosing your second position note. I doubt that a note behind such a large first can be sold, even with a large discount, so you should plan to keep it until it pays off.

If it is cash and your owner financing is in first position that sounds wonderful.

Good luck.

]]> By: mel camas http://owner-financing.com/owner-financing-doesnt-mean-you-must-sell-by-owner/comment-page-1#comment-109 mel camas Mon, 24 Aug 2009 03:43:58 +0000 http://owner-financing.com/wp/?page_id=20#comment-109 have a house for sale 450, buyer wants to pay 360,00 and owner finance the rest, what shou,ld I do missionkids777@hotmail.com have a house for sale 450, buyer wants to pay 360,00 and owner finance the rest, what shou,ld I do missionkids777@hotmail.com

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