Updated over 9 years ago on . Most recent reply
Why would a seller not accept bank borrowed money
I am interested in a property that my real estate agent says requires 25% down, since we don't have that I wanted to get a credit union loan for the down payment (owner contract for the rest) but my agent keeps telling me they will not accept borrowed money only cash. I don't understand, wouldn't they have cash from the bank?
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It is a large piece of land that they are offering at an owner contract with 25% down. I would not be financing the other 75% with a bank.