Selling with owner financing????

4 Replies

I am wanting to sell my current home with owner financing. What is a good source for learning to do this? I have searched and get over run by results that do not apply. Please help, I plan to list the house in the next week and would like to be ready to go.

OK seller financing and dodd frank...

SC has laws with the SAFE act and Dodd Frank - Safe Act also has federal laws.

1. Get a RMLO in SC.  See Mindy Henderson for a referral.

Here is a map showing in what states I can operate.

http://mortgage.nationwidelicensingsystem.org/profreq/testing/Documents/UST%20Adoption%20Table%20and%20Map.pdf

The rest of the states require a LO to be approved by their state commission individually. Also, several states require that you have a physical office in that state. If I could be guaranteed enough business from a State, I would check into getting licensed in that state.

Mindy Henderson

NMLS #209494

Laredo Property Development, LC

PO Box 940832

Plano, TX 75094

972-881-4739

Fax: 972-852-7900

[email protected]

2. What kind of seller financing are you wanting?  Here is a Nolo by attorneys article.

http://www.nolo.com/legal-encyclopedia/seller-fina...

3. Get an attorney 

See your local REIA

http://www.biggerpockets.com/rei/real-estate-clubs...

Ask their president - organizer.

It aint easy to find a good attorney that knows seller financing in the Dodd Frank environment.

I hope that assists you.

John,

I am in the same boat that you are in! I am desperately seeking information, so that I know how to sell my house using owner financing.

I just want Owner Financing 101 (from the perspective of the seller).

I'm looking for hard examples using numbers. How does one put together a deal, and what would the numbers look like? If anyone can boil this down to ther mere basics, that would be awesome!

Hey John,

A guy you probably would want to talk to in our area who has alot of experience with this is Rodger Jarrell. If you check out his website rodgerjarrell.com all his contact and information is on there. He's been doing it for a while and does alot of seller financing in B Springs.

Brian - I just read the nolo link, and it's pretty good. Thanks for making it available for us. All- It says something about using a servicing company. How does that work, and how would I find one? I'm considering doing an all-inclusive...