Funding through the seller ?
So I’m trying to purchase a home that I found To be a good deal! The issue is I cannot get a traditional loan due to the amount of rehab It will need to make it live able , and I don’t want a rehab lain because I want to do the bulk of the work myself .
purchase price the seller has agreed on is 65k and my estimate it needs roughly 35k in Reno. I have the 35k in cash for renovations I just need money for the home. I was thinking of asking her to hold the mortgage and give her a down payment upfront and pay her monthly until I can refinance after the Reno and pay her ..
Does anyone else know any financial options to get this deal done ? Much appreciated