Selling Owner Financed Property Above FMV?
So I've heard that it's not uncommon to sell an owner-financed property at a premium (usually around 110% of FMV). However, I ran across a few posts here on this site that assert that this practice is in violation of predatory lending rules with severe consequences. I'm very interested in getting other peoples' feedback and hopefully get some real answers to this.
Quite honestly, I have no intention of getting into OF any time in the near future, but I am in learning and discovery mode, so when one of the best-known and respected real estate attorneys in my area (according to folks here on this site) happen to mention to me that charging a premium above fair market value is perfectly fine and quite common, reading these doom and gloom posts raised a curiosity in me that I really must put to rest! So I'm curious to know who's right and who's wrong?