All Forum Posts by: Angelica Casanas

What if the owner dies, how am I protected? Do I record this document?

I would like to propose to my Landlord for her to do owner financing.  She is open to do it.

How do I go about doing this? How or where can I find that type of contract agreement? 

She doesn't want to sell because of Capital Gain Tax I believe it's called.  It's an older lady and she's not too savvy.

There are some Owners that will act as a bank, and let you purchase property - you would be in charge of maintaining the property as well.  So people that can't get a loan from a bank - Owners have found Tenants who are willing to purchase property make agreement to purchase.  There's an instagram profile of a guy who has properties he does this with - I'm going to try to reach out to him. But if someone on here knows please let me know how. Thanks again.

Hi, I want to purchase the home I am renting.  She is a good friend of a good friend of mine.

She purchased home in March 2021, so she can't sell right now and won't - I've asked. I'm working on building my credit and I would apply for FHA. I haven't as of yet.

I heard about owner financing on podcast.

My question is... she doesn't know and I don't either - how we can make an agreement so I can purchase her home?  How do I go about writing or creating an agreement? What terms would be good for both of us?  Once I present her offer and she agrees, how do I protect myself from her backing out or is there anything else I should worry about?

Thank you for your help!

And BIG thank you Bigger Pockets for having the resources and for what you do... I've always wanted to be a real estate investor and so I'm really excited for my family and I's future. Bless.