I bought just over 36 acres in 2009 and have added a barn and infrastructure to build a home in the future but I have now decided to move from my current area. I have an offer of 500k on the property currently but the buyer needs to owner finance. I owe apprx 230k on the property and the buyer can put 100k down. My lawyer says we need to have the property free and clear to owner finance. I have decent credit but will be changing employers next week. I currenlty hold notes on three other properties that I am owner financing. Does anyone have any idea where I can get a loan(130k) to pay off the note so I can unload the property?
You don't have to pay it off. Use a wrap around mortgage. Get a new attorney.