f you can not get a bank to give you financing, seller financing as I have found out is an option. How would you go about finding sellers who would do seller financing? I have seen it in some listings but mostly they do not mention it. I know you would have to ask and if see if they would do it. If so you would need an agreement in place. My question is if you do get someone to do seller financing what would you put in place to ensure both parties get a fair deal and it all works out?
@Mike Bereck There are two things that make something a deal. Price and/or terms. Price is easy to understand. Terms are things like seller financing. And you often don't get the best of both. So you are likely not to get the best deal on price if you get seller financing. But that may be okay. The seller financing, even at full market value, can still make it a deal.
Some people are stuck on price. They just can't accept selling for less than they think their property is worth even though there are no buyers at that price. But you don't know if they have equity. This makes them very difficult to target as a group. Investors run across them, for sure. I have. But not because I targeted them.
Old and expired listing are from people who want to sell but didn't find anybody to buy at their price. But this doesn't tell you if they have equity. You could do some research and try to find out if the property is free of liens, which should mean they own it outright, but this may be time consuming.
Right. It seems like people think their home is worth more then they could ever get for it and if that happens and they won’t move on the price you just move on to the next one. Guess you just have to find the right seller.
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