Owner Financing Questions
Hey Everyone,
So I have found an off market deal where the owner wants to get rid of the home at $63k. Which puts our budget very tight for a flip with the repairs looking to be around 20-25k.
I am having the thought of owner financing but haven’t done this before and am looking for help in understanding 100% but also explaining it to my wife who said no as she is an agent and has the fear of a due on sale clause.
How do I start the conversation?
Will the due on sale clause come in effect?
Is owner financing beneficial for a beginner?
How does this work contractually for us to take ownership of the house?
Does it make sense to do a owner financing if we don’t have a ton of cash?
I hope this makes sense as I am still a newbie and want to do it properly.