Buyer closing issues due to covid

[Chris Igard]

An offer was made on our property back in February, it was scheduled to close on the 25th of March. It was pushed back because the buyer needed a co-signer. It looks like it’ll fall through because as I’m told the government isn’t available to finance sub prime loans at the moment and there aren’t any private investors available. We should hear something today or tomorrow morning, I’m thinking we should owner finance it if it falls through. 25 percent down at a 7 percent interest rate. Anyone have any experience with this sort of thing? Anyone out there that can poke holes in this plan? We are looking Into purchasing a new home and this would put a halt to it. Thanks

[Russell Brazil]

Chances are if they dont have the credit to qualify under stricter credit score requirements today...they probably dont have 25% down. What was the down payment in the contract?