Updated almost 8 years ago on . Most recent reply
Sellers financing and note selling . Need advice!
Don't know if it's the right forum but I'm gonna post it here, if I'm not in the right place by all means move it to the right place
So I listed my property after flipping it using hard money . Day 2 of listing a guy willing to pay asking price with sellers financing( actually with a rent-to-owe process but I figured I can offer sellers financing). Property in A location( south Tampa ) with a very nice remodel( put in 45, people think I put 80;)) .
So I figured hey why not financing the seller and selling the note over . Only issue is that I've never done it before .
-will my idea work giving the fact I use hard money? Does my lender needs to know about it ?
- what makes a note an attractive one ?
- what ways can I qualify the buyer as a borrower ?
-what are the "standard" terms for seller financing ?
-what else do I need to know?
Need advice fellas !