Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

15
Posts
1
Votes
Matthew Diaz
  • San Antonio, TX
1
Votes |
15
Posts

1st Time Owner to Seller Finane

Matthew Diaz
  • San Antonio, TX
Posted
Okay ladies and gentlemen.So I need your advice. I just did my first owner to seller finance and I’m wondering if there’s anything I could’ve done better or or anything did I do wrong? I initially put 30k into the house to try and remoIdel it, but with contractor issues the cost just became to much. I sold A property to an investor he bought the house for 150,000 at a 7% interest rate for 12 months He has a monthly payment of 1400. With a balloon payment to pay the rest off which should be about 139k. He put 3000 down and the first months payment so 4400 all together. We did the deal through a attorney, we did not go through a title company because the investor didn’t want to since he was paying the closing cost. The house does not qualify for a conventional loan because of its condition. So my question is since this is my first time doing this type of transaction; what are the risk involved? (Pros and Cons)I’ve done a little bit of research but I’m looking for more insight for more season vets. Any advice welcome

Loading replies...