Updated over 6 years ago on . Most recent reply
Seller financing in Canada
Hey everybody !
So I’m looking to buy a second investment property. I will be selling my primary residence and I’ll have about 100k to play with . I still have my government job so financing for this next property shouldn’t be too difficult.
I found a four plex that I’m interested in , it’s listed privately and has been on the market for a a few months now. I mentioned seller financing , I said I could provide a large down payment and perhaps a balloon payment after a certain amount of years. If I were to use let’s say 50k to do this would it be a good idea ?
I thought it would be good because I could get this four plex using 50k and then keep my other 50k for a down payment on something else financed by the bank . The goal is to get as much as I can this year !
If it is a good idea , the seller wants me to call them to discuss , can you guys help me structure this in a way that is beneficial for me but also attractive to the seller .
Thank you so much !