Updated almost 5 years ago on . Most recent reply
Can This Exit Strategy Work For Seller Financing Using A VTB?
I am currently considering how I would exit a seller financing deal that has a 5 year balloon in the P&S agreement. For example let's say the terms state that the purchase price is $380,000, DP is $19,000 or 5%, Amortization is 30yrs, interest is 4% and seller wants a 5yr balloon. At the end of the 5yrs I would owe a net balance on the property of $326,500. If I were to sell the property at this point when the term is up could I use the cash to pay the investor since he would have a lien on it and if there is profit from the deal keep it?