Owner Financing for Unit Bought in Cash

4 Replies

Originally posted by @Danual Berkley :

What percentage do you charge for interest? 

What happens if the house floods or burns down and the buyer didn't have insurance? 

should I keep "just in case insurance"?

The insurance has you as the mortgagor. Just make sure it's in place before you close. You can do this at closing. I get about 8% on my owner financed with 10% down. Have an attorney draw up the paperwork and close using escrow.