Updated almost 10 years ago on . Most recent reply
Seller financing
I have a cousin by marriage who called me about 2 months ago to come look at his investment property in Baltimore City and give him a quote on how much it would cost to fix everything for a tenant. Since then he hasn't done anything to the property because he is financially strapped at the moment but he still has a mortgage on the home that he pays every month. The property had a major flood on the basement about 2 years ago and since then the property has been empty because the mold remediation is very expensive and he just doesn't have the funds to get the work done. On top of that the contractor he hired to fix it up the first time did a horrible job on the shower where it leaked and the 1st floor ceiling fell. Question is what are the steps that I should take to set up a seller finance with him if it's even possible? The only way I have financed previously is through a bank so any input would be greatly appreciated.