Need Owner Financing Advice (Im the owner)

[Brandon Smith]

Hi Bigger Pockets Family,

I need your expertise. I have a house in Fort Worth Texas, that I am trying to sell, but it is not selling the way I would want it to (beautiful house in transitional neighborhood). I am thinking about opening it up to owner financing. However, I am not too privy on what decent term rates are in this realm of creative financing. I am thinking the following:

This would be a wrap around mortgage as I still owe $165k on it.

Sale Price $245k (market price)

10% down ($24,500)

10% Interest 

30 year (please tell me if thats a bad idea)

Monthly payment based on 30 yr ($1930/mo + tax and insurance) = $2448/mo

Please let me know if i left any pertinent information out.

Any sleuths out there can check it out. 🤓 (1032 E Tucker St Fort Worth, TX 76104)

[Preston Dean]

Quote from @Brandon Smith:

Hi Bigger Pockets Family,

I need your expertise. I have a house in Fort Worth Texas, that I am trying to sell, but it is not selling the way I would want it to (beautiful house in transitional neighborhood). I am thinking about opening it up to owner financing. However, I am not too privy on what decent term rates are in this realm of creative financing. I am thinking the following:

This would be a wrap around mortgage as I still owe $165k on it.

Sale Price $245k (market price)

10% down ($24,500)

10% Interest 

30 year (please tell me if thats a bad idea)

Monthly payment based on 30 yr ($1930/mo + tax and insurance) = $2448/mo

Please let me know if i left any pertinent information out.

Any sleuths out there can check it out. 🤓 (1032 E Tucker St Fort Worth, TX 76104)

Are you needing out of the deal asap? 

If not MLS shows only 27 DOM. Give it some time.

Most of the properties you might be comparing them to are new builds from 2022 & 2023.

Regarding your question, just have your agent put that option on there I know many investors who would be interested in seller financed deals