Updated almost 2 years ago on . Most recent reply
Owner considering seller financing - education and resources
Hi all - I have a property for sale and am about to receive a contract that will be cash OR Cash with a portion of seller financing. I get the concepts but need information and experience from the viewpoint of the OWNER who has provided financing before. Can someone explain to me all the steps to protect myself? Placing a lien on the property through buyer underwriting, mortgage processing, resources for the loan processing, and thinking ahead planning for recourse should they default? I do not know or have any history with the buyer, they are working through an agent. As of current I am pending a written summary of the offer. I may lean toward cash just because this is too much to try to figure out and I have a real job!! But what can the fine people here tell me?
- Lynne Hart
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