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Updated over 7 years ago on . Most recent reply

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Kyle Dutson
  • Laramie, WY
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Selling a seller financed property. Question

Kyle Dutson
  • Laramie, WY
Posted

New here and after much research  I am deciding to expand my portfolio from just stocks to real estate aswell. That said, I will most likely be looking for a seller financed property. Assuming I find said property at the right price and deal, what happens if I want to sell before it is fully payed? Would this be part of the deal? An option to sell when and how I choose or a promiss to hold the property?

The reason for asking is mainly this. I want to buy/improve/hold/rent but trade up when the opportunity arises. If the seller is financing the property for a steady cashflow + interest, wouldn't I be putting them in a bad position if I sell 5yrs in? They make less money, lose their steady cash, and possibly get hit harder on taxes. 

Any insight and knowledge on the subject would be much appreciated.  

Currently searching/networking for deals. Slowly chipping away at my dreams of financial freedom 

Most Popular Reply

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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
Replied

@Kyle Dutson

When you buy a house with seller financing you get title to the house, you can do whatever you want with the house. Most seller financing is with a 3-5 year balloon payment. So, don't worry about what the seller is doing with themselves.

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