Updated over 6 years ago on . Most recent reply
Structuring Seller Financing
Hey guys - NJ newbie here! Looking at a 5 family for sale by owner, and planning to speak with the owner tomorrow. Thinking to see if I can get the owner to consider seller financing. If the owner was open to such an option, could you please suggest possible structures that are typically appropriate when it comes to seller financed deals? Thanks so much!
Most Popular Reply
Check out: Chad Carson - Seller Financing
Questions to consider asking:
- Do they own it free and clear?
- Why is it for sale by owner? (could be helpful to know)
- If they will seller finance, what % downpayment would they want/need?
- How long are they willing to seller finance?
Most sellers do not want to think about the property for another 30 years. You could suggest a 30 yr amortization but a 10 year balloon payment. Good luck!