Leverage VA rate by Seller Finance
We're planning on selling our condo in Los Angeles and moving out of state to a cheaper area. Spoke with a broker friend and he suggested I leverage my VA rate of 2.375% by offering seller financing or rent to own. It seems like we could get a down payment for a new, cheaper property and some passive income while also saving the buyer money.
We’d get an airtight contract of course but am wondering of there are any pitfalls we’re not thinking through. Especially here in Los Angeles / California.
Thoughts?