I need to find a seller financed house to buy for my 1st property. When I call to ask if they are willing to finance the house, do I need to explain what it means if they don’t know?

You ask with an already prepared proposal for them financing the deal.

When you meet them in person you look and act as credible as possible. You typically do not use the word owner financing, because that puts the entire ball into their court for them to decide the terms etc. You tell them what you can do and the negotiation starts there If they are remotely interested in such an arrangement. There are some investors that market with owner financing. I for one do from time to time. Most of the time the terms are already predetermined, but I guess everything is negotiable depending on the down payment and such. Happy hunting

Your best bet is going to be sending out mailers. This will allow for you to get your name and proposal in front of as many property owners as possible. You need to be direct and formal, you cannot beat around the bush when asking someone to essentially loan you a significant amount of money on the deal.

@Britt Slayton I would read the comments made by @Derek Dombeck and @Joe S. again. They hit the nail on the head. If you're working with an agent, they can filter the properties for you that already show the owner is willing to owner finance. Your approach can be different for these sellers since you already know that they know what seller financing is and that they are willing to do it. Best of luck!

How to ask a seller if they will finance the houseHow to ask a seller if they will finance the house

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How to ask a seller if they will finance the house

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