Updated over 6 years ago on . Most recent reply
Problems Partial Offer for Owner financing, Note, Land Contract
I have a Land Contract I am considering selling, the offer is for a partial buyout. The Land Contract has a balloon and they are buying the payments till then. I guess I will hold a 2nd position. My question is in the event of default what problems may arise. The company said they have 0 foreclosures on their books, however I know the success rate of notes. I currently have the property as collateral in the event of default. With the idea of the balloon at the end I am ok with the reduced amount I will receive just wondering if that can be jeopardized.