Buyer wants to put 100K down
We are trying to sell our house and found a buyer who wants to do owner financing with us. This is not an investment property, but will be their primary residence. They came into some inheritance and want to put 100K down on a three year term.
Anyone have experience with the business end of an owner finance deal?
I would think this is a foolproof deal for us. If they miss payments two years in and we have to foreclose, we get to keep the 100K. I dont see how we can lose on this one.
thoughts?