Using MLS to find Seller Finance Deals

[Account Closed]

What are some creative ways to search the MLS for potential seller finance deals? Any filters you recommend? Criteria you look for? Etc.

I have access to the MLS and really want to take advantage of it to find deals and avoid assignment fees to wholesalers.

[Jeff Copeland]

Sometimes you can search the comments fields for the words "seller financing", and some MLS systems even have a drop down field for the types of financing being offered or entertained by the seller:

I just used this out of curiosity and in about 15 seconds found a listing that literally states in the public comments "Owner will hold financing with 20% down - terms to be negotiated."

Perhaps more importantly, it helps to understand when seller financing is appropriate. You can't offer someone who owes $200k on their mortgage $25k down with seller financing (check out https://www.biggerpockets.com/...), so another important piece of homework is to try and figure out how much the seller owes. This info is sometimes available via ancillary MLS systems (such as REALIST), or you can do an old fashioned public records search for mortgages. From there it's often simple enough to infer approximately how much they would owe today.