Potential deal with seller finance

Potential deal with seller finance

Member since 2022 · 4 posts · 2 votes

I just met my neighbors who own a duplex. They confronted me about selling their property by the end of the year. I asked him if they’ve heard about seller finance, they were able to understand the concept so they want 20% down and they’d be willing to set up payments, this would be my first time doing this so I’m just looking for advice for anyone who has done seller-Finance in the past maybe some pointers towards how to set up the note etc. thanks for advice 

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  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    2y

    @Tanner Bundy

    what are your questions

  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y
    Quote from @Tanner Bundy:

    I just met my neighbors who own a duplex. They confronted me about selling their property by the end of the year. I asked him if they’ve heard about seller finance, they were able to understand the concept so they want 20% down and they’d be willing to set up payments, this would be my first time doing this so I’m just looking for advice for anyone who has done seller-Finance in the past maybe some pointers towards how to set up the note etc. thanks for advice 


     Use an attorney and title company to do all the paperwork. Leave it to the experts is my recommendation on drafting all the documents after the terms are agreed too.

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