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Updated almost 5 years ago on . Most recent reply

User Stats

40
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19
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Jeffrey Page
  • Rental Property Investor
  • Baltimore, MD
19
Votes |
40
Posts

My First Deal Buying a property from family with seller financing

Jeffrey Page
  • Rental Property Investor
  • Baltimore, MD
Posted

I'm buying my first property a 3 bedroom 2 bath house for 115k in one month in the D[M]V area. The property will be valued for around 315k once rehabbed. We are using seller financing for the loan for 15 years with 2.00 % APR and I'm covering all the attorney fees. The seller is a relative. I planned to BRRRR the property.

Is there anything I should include in the contract with the seller when buying the property? Or any additional advice will be helpful.

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