Seller Financing, inidicates problem with property?
Good morning,
I just got off the phone with my agent to discuss a property I found in my area. I just purchased a triplex and used FHA and now I'm left to be creative with the financing of my 2nd property i.e. I don't want to put 25% down. I asked him to find out if the property was owned free and clear because I wanted to offer the owner an opportunity to finance me without the bank.
My agent replied pretty quickly that seller financing was attractive back when interest rates were much higher but now since money is so cheap things are different. He sa8d beware of sellers interested in seller financing because it makes one wonder, "What are they hiding?" Can anyine shine some light on this thought? It seems like so many people, Brandon included, have used this strategy successfully. I don't know what I don't know and I am lookimg forward to your replies.
Thanks, as always!