How To Owner Finance Knowledge Base
how to foreclose on a owner finance in Arkansas? Dose anyone know the legal way to forclose on a owner finance land/home in Arkansas? It a mobile home on 1 1/2 acres.
How can you penalize someone that has defaulted on an owner finance contract? We have an owner financing contract that was executed nearly 2 years ago. Our clients were required to pay the taxes for the property. They neglected to do so in 2005 and 2006. Therefore, our lenders implemented an escrow account for the amount owed. This increased their payments. They decided to move out, break their agreement, and leave us with the payments until we can get it sold. What can we do to penalize them and possibly get our money back?
How do I "owner finance" a buyer.? There credit is not great. Can I sell the paper to a mortgage company after I sell it to buyer.
How does home owner financing work? Hi, I am intend to sell my home and have about $70-$90,000 in equity. I want to finance 10%. How does it work? I ask one of my realtors. he told me that I must have the 10% in cash or get a equity credit line and give that money to the lenders at the settlement. After settlement, I can use the money paid by buyer to pay for credit line to prevent interest. It sounds weird to me. What are step I must do in home for sale by owner and and owner financing? Hi, I am intend to sell my home and have about $70-$90,000 in equity. I want to finance 10%. How does it work? I ask one of my realtors. he told me that I must have the 10% in cash or get a equity credit line and give that money to the lenders at the settlement. After settlement, I can use the money paid by buyer to pay for credit line to prevent interest. It sounds weird to me. Let say I have a house for sale $400,000. I owed 306,000 mortgage. That I would have $94,000 equity. I have a buyer who willput down 10% and ask for 10% financed by owner. So at settlement, I should have $20,000 in cash a and promising note from buyer to pay me $40,000 in 30 years. Is this right? I don't have cash and other credit line. What are step I must do in home for sale by owner and with owner financing?
Should they pursue owner financing to buy a home /how? Cousins have BAD credit, but their landlord will sell a $35000 house with $3500 down. Is there any possibility to get financed traditionally? How does owner finance work and how?
OWNER FINANCE Texas Panhandle 2 & 3 Bedroom Homes? BELOW IS A LIST OF PACKAGE DEALS THAT I WOULD BE WILLING TO SELL CASH OR OWNER FINANCE. I HAVE 54 RENTED PROPERTIES FOR SALE IN PAMPA, TX. RENTAL INCOME IS $18,500 PER MONTH THAT IS $345 PER HOUSE/MO AVG. SQ. FT. IS 900-950 CASH PRICE IS $1.325 MILLION OR OWNER FINANCE FOR $1.4 MILLION $375,000 DOWN 10 YR AMORITIZATION 5 YR BALOON @ 9.5% HERE IS ANOTHER PACKAGE DEAL! Pampa, TX 1124 Sandlewood 3/1 $26,000 Panhandle,TX 908 Charles 2/1 $30,400 Fritch, TX 309 N. Cornell 3/1 $33,000 Fritch, TX 205 N. Sheridan 2/1 $28,700 Hereford, TX 707 S. Texas 3/1 $34,600 Hereford, TX 608 W. 2nd 2/1 $33,300 Hereford, TX 610 W. 2nd 2/1 $33,300 _______ TOTAL $219,300 WILL TAKE ($206,624.29) ALL HOMES ARE MOVE-IN READY! NO REHABS REQUIRED! BUY THEM ALL OR INDIVIDUALLY..... ALL ABOVE ARE CASH PRICES I WILL ALSO OWNER FINANCE TROOKC@YAHOO.COM
How could I structure owner financing on this deal.? I may be getting a property under contract very soon for the deed. If I do, then I have the option to do owner financing. I don't really understand how to structure owner financing deals which is holding me back from trying to get the deed versus doing a regular lease option. How would I structure a deal like that based on these numberers: The original seller will sell for way the owe: $188,000. Mtg. Payment: $1207 per month Home is worth $235,000. If I found a tenant buyer How could I structure owner financing. I know I'm probably missing some information, so let me know and I'll add it. I know people do this everyday. Also, Is an owner financing deal a more committed version of a regular lease option deal?
Owner/finance? I put an ad on Craigslist wanting to rent a 2 bedroom 2 bath home in Missouri, because I live in Los Angeles, and someone from a finance company responded with an offer to owner/finance a home in the specific area I was looking for $650. a month. I emailed him back that I might be interested but never heard back from him. For those of you who know the real estate business, would this be a legitimate offer or some kind of scam?
how hard is it to get 100% owner financing? How many people have ever purchased a home that was 100% financed, with no money down? I know it's possible, but doesn't happen very often. If you have done it, do you have any tips for getting an owner to consider owner financing? Is a realtor needed? Are there still closing costs? Do sellers check your credit or assets like a bank would do? Could buying an owner financed home help me raise my credit score over the next few years, until I could qualify for a traditional loan and pay off the seller? Someone else asked a question about owner financing, except he wasn't specific at all...but I'd been thinking about the topic and figured I'd ask. I have $6,000 but I don't want to use that for a downpayment. I want to have that set aside for the whole first year of housing payments. I have my own business, but I want to mostly focus on supervising my son's ABA autism therapy for a year...but I don't like the idea of a landlord. And renting is basically throwing your money away, when you buy a house, the money you pay every month turns into equity...so I was thinking of buying instead of renting, but I have bad credit. I was hoping that in about 2 years, I could qualify for a regular loan, and pay off the seller, but I can't qualify now.
If I owner finance my land & they build on it, then default, what happens? I hold the title to this land & wish to owner finance it to someone. What if they build on it and then default on the note? Maybe the bank would fold it into the new construction home loan?
If I owner finance a piece of land, is the the whole gain taxable in the same year it sells? I live in TX, so with regards to Federal Tax, if I owner finance a piece of land, will I have to pay taxes on the amount as if it is a cash sale?
how does owner financing work in texas? I really would like to purchase a house, however I have limited credit and fear I would not pass for a mortgage at a bank or any financial institution. Reason being is that I have not been at my job long and once again, I do have limited credit, I would rather not even bother to try a bank for fear of rejection. I am only 22 years old and only have about $1000.00 for a downpayment, can anyone please explain to me how owner financing works?? is there a balloon payment at the end of the term you agree on??? any responses would be greatly appreciated.
are there any owner finance properties in garner ,n.c.? OWNER FINANCE
Buyer going through owner finance and I signed some papers in september builder has not finished the house? I am 1st time home buyer,(owner finance) I am really worried .I signed some papers in sept. (papers) meaning not the contract because the house isn't done all we need is tile, fixtues,oh and electric. On the papers I signed it says :Builder will make all reasonable efforts to substantially complete the improvements within 90 calendar days from that date hereof. Builder does not warrant or guarantee completion of the improvements on any specific date. Okay I talked to the builder a few days after the 1st of january he said his father had passed away and he was going to proceed to put the tile in that saturday which would be the 5th of january nothing has been done since the week before christmas. I have been tring to get a hold of him and all I get is voice mail. We are now at day 122. What should I do? I feel so helpless.. Should I wait ? Should I go to a Lawyer?
Anyone know how to find Owner Financed home in Kansas City area? recently divorced woman, bad credit needs to start over. I have looked at FSBO homes but I need owner finance.
in texas can you sell a doublewide you have purchased as owner finance? purchased a home and the finance company says i can not sell as owner finance although the wording in the contract makes no mention of not allowing reselling by me the owner... is this a devious play to get me to let the doublewide go and loose my investment of app 4000$ust ?they woulkd rather take it back and resell it themselves and make another 4000 dollar downpayment on the same used home.... what gives here ? can i owner finance and /or take over payments method of selling the home i now own.......? any experienced oppinions will be welcome thanks
whad credit home loan? or should i owner finance a home? rent to own(owner finance or bad credit home loan? shre your thoughts and experiences
I have a couple of rental homes that I want to owner finance. Can I do that if I still have a balance? I have some rental homes that people are asking me to owner finance because they cannot finance through a bank for various reasons. Can I offer them this owner financing if I still have a mortagage on them?
How do I determine the interest rate to charge for owner financing...? Selling 2 acres of raw land and potential buyer is offering full price if owner finance (20% down) but I do not know what to consider for the finance rate on the loan. Any ideas? Located in Texas..
How does someone do Owner Financing on a house? I am looking to sell my house and offer owner financing to open up for more potential buyers and an increased sales price. I need to know what paperwork I need to do to complete the transaction. Do I need to notify my current lender? Should I consult an "expert" or is this something I can do myself? I rather not pay someone if it is just a matter of doing the leg work... Any help would be appreciated since I have searched all over the internet and have been unable to find the answers I need.
Anyone buy a home with owner financing? how did it work? I have the not so greatest credit (no high credit card debts) and have been disabled for the past 5yrs. i am wanting to buy a home and even with a decent down payment i cant get it..m going saturday to look at a house done by owner financing. realtors showing it to me and just want to realistic and dont want to jump into it
How do I find a buyer for an owner-financed home? I am trying to sell a house in Palmdale, California, and I will do owner financing, which means no bank qualifying or downpayment necessary. A perfect win-win for myself and any interested buyer who wants a great deal at a fair price and interest rate without having to go through a mortgage application.
Owner financing-rent to own-How does it work? I see some ads that say seller finacing-lease to own and wanted to know if anyone knows how this really works and if it is just in favor of the owner. If I finacing from the owner and needc to move after a few years do I loose all my money paid in, etc. Also would I beable to deduct that on my taxes as a mortage deduction as a write off?
what does owner will finance mean? my husband and I are looking for a house. And one house we found says owner will finance. What does that mean? Are we going through a regular lender or the owner?
Who is responsible for car repairs - registered owner or finance holder? Hope someone can help! My mother recently agreed to get finance for my sister to buy a car after she was banned for 2 years for a driving offence (she got her licence back now) The car is registered in my sisters name. She was only able to get 3rd party insurance cover and has now had an accident which was her fault. The repairs to her car are costing £2500 and she cannot afford to pay it but she has gone ahead and booked the car in for repairs anyway (honest & trustworthy she is not!!). She is now threatening my mother by telling her that as the finance agreement for the car is in her name, she will be liable for the repair costs. Surely this isn't right? The garage should chase the registered owner of the car for payment?? If anyone is able to help I'd be really grateful as my poor mum is frantic and about to give in to my evil sister!! Thanks x
I want to owner fiance my rent house to my current renters. How do i go about the paper work? Who do i talk to The renters that live in my rent house right now have lived there for about 10 years and have been on time on their monthly rent. I am not in a hurry to sell my rent house but i would like to owner finace with them. The renters don't have very good credit but they are very intrested in buying with owner finance. If I owner finace it would be a win win situation. I can sell my house and maybe get some interest on top of that and the buyers would get to own their first home.
I am the home owner, how does a promissory note work? Hello all, I am a home owner who is selling my home with home owner financing. How does it work? I know I have to write a promissory note for both parties to sign. So when we sign the offer contract and promissory note , we then go to settlement title company for closing. So the buyer should bring this note to settlement title company at closing date. For example, I am selling the house for $400,000. I will carry 10% and buyer must down 10%. I have 1 trust for $306,000. At closing date, I would have $54,000 in cash and receive a monthly payment for the promissory note. Am i right about these transactions? I have been heard that seller must have money in order to lend the buyer at closing date as an owner financincing. That means I must have $40,000 in cash. Give this money to buyer and buyer makes a promisorry note to pay back this amount in 30 years. After closing, I would receive $94,000 in cash and a promissory note payment for $40,000. I feel it is not right? Pls help Thank you for all your answers that really help. $306,000 is my mortgate that I am still owned. Buyer puts $40,000 and i give him a note for $40,000. At settlement, I will recieve $360,000 plus $40,000 in note. After I pay off my first mortgage ($306,000), I will get $54,000 in cash (360,000-306,000), and a note for $40,000 Do i need to first pay off my mortgage in order to finance buyer ?
Owner financed home, can they report to credit union? how? My husband and I are buying a home from a personal seller. Everything is official, we have a legal binding contract, and everything. We just make payments to them, instead of getting a bank loan. We want to know if they can report us to the credit union, and if so, how do they do so? We have been making payments on time for 2 years, and have 5 to go, and that would greatly help both of our credit scores. Thanks for any help! The house is in our name, as is the home and flood insurance, which we paid. They are willing to report for us, and I would very much like for them to. And, umm, I don't know what you are talking about "yep, its illegal" enjoy ur 2 points that u didnt really earn. thank you newjersey, i did mean credit bureaus. lol
We bought a house owner finance. The orig owners had us sign a Real EstateLien but it was never filed in the? Court Records of our county. We have paid off the house, what kind of paperwork does the original owner need to give us in order to prove that we have paid the note? Do we need a Release of Real Estate Lien?
Should I hire a lawyer for owner finance? There is a lot to this story, but here goes. I have a lady with 6 acres of bare land that I want and she is offering to finance the land at 10% interest and about 250 a month with only a thousand down. Total price is about 25000 dollars that she wants. There is one catch though, she is behind on her taxes by about 4500 dollars, they are only about 3 to 500 a year and yes she is way behind. We asked the tax office and they said it would be fine for us to make payments on taxes and they would not default it and take it away (and even if they did I have no problem just paying it) but would rather pay it in payments. Do we HAVE to use a lawyer because they want to charge about 3000 to do the deal and she will not pay anything since she is giving us such good terms but it is a deal breaker because it raises the price. What could happen down the road if no lawyer is used and what are your opinions on this, tell me why or why I shouldnt go through with it and what you would do. I can do without the smart ass comments, if you don't have any info then don't waste your time at my question.
I want to owner finance a house that I own. Do I pay the taxes and insurance every year or do I have the buyer How do I make sure the buyer carries insurance in case the house gets destroyed?
How does one go about selling a house that has owner financing? I have the deed, there is a deed of trust recorded, there is a 30 year mortgage (27 years remaining), low monthly payments & a low finance rate. Do I have to get the mortgager's permission to sell, or can I sell it to pay off the mortgage (while hoping to make a profit)? I'd rather not go through a real estate agent, but will potential buyers not be interested because of the deed of trust? Do I have to satisfy the deed of trust first before I can sell the house? All input appreciated. Thank you!
need 4 bed home in Andrews NC to rent or owner finance ASAP with little or no$$ down does anyone have a place? i have a 7 person family living in a 2 bed trailer. we need asap a bigger place at LEAST 4 bedrooms. it needs to be in the andrews nc school district in or out of city limits allow pets can rent up to $650 a month but no more. would like to owner finace home if possible if someone is willing to work with an honest family who just needs a break. can anyone point us in a good direction so we can get our break PLEASE
Im buyin this bar/restraunt and lic are in with price but its owner finance? Im buyin a bar with owner finacin.Can I use the lic or transfer them.The lic are in the price
What is an owner financed mortgage and how does owner financed mortgage works? Was something that someone mentioned to me and I dont know who to ask or know the answer. If anyone can shed some light on this subject I would appreciated. Thank You and have a good day.
anyone willing to owner finance a home? I have bad credit but have been on my job for 4 years and in the field for 10. My husband has had his job for 4 years and the one fore that for 12 years. we have a 5 eyar rental history with excellnt references. I want to buy a house that only cost 31,000.00. I can put 10-15% down. any one done this beofre? The house is located in SUNDOWN TEXAS....PLEASE HELP!
I agreed to owner finance the sale of my beach house? the buyer is now 2 months in arrears! what are my rights here in TX
Powered by Yahoo! Answers
