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Updated about 6 years ago on . Most recent reply

OWNER FINANCING CONTRACT QUESTION - WHAT HAPPENS IF OWNER PASSES?
If I were to acquire a property using owner financing for example: Purchase single family home from owner for $100k. $5k down payment and zero interest monthly payments for remaining balance of $95k @ $527/month for 180 months. My question is, what happens if (God forbid), after 60 months, the owner passes away?
Most Popular Reply

You would owe the money to his estate (Heirs). If the estate is not well managed, and the heirs are clueless, there is a possibility (unlikely) that no one would step in to collect the debt.