Posted on: 09th Jul, 2011 08:33 am
I am asking a seller that is willing to considered owner financing his property for me at $164,000. The seller owns the home outright. I need help on writing my proposal to him concerning my down payment (I would like it as small as possible), length of contract, and interest. I have good credit, but I own my own company. The home is priced $20,000 below market value and is in a great area, but needs some updating. Thank you in advance.
Zoey, you ought to speak with an attorney so as to properly word your proposal for purchase. When you get advice from lay people, you'll get what you asked for...with a lawyer who knows real estate law, you'll get the protection you require...don't forget your seller/financier (if smart) will have his lawyer reviewing the paperwork.
As a principle, you can come up with the paperwork or get a generic form of websites but I strongly recommend you to seek legal advice so it will be specific to your State and situation. Simple real estate contracts should cost just a couple hundred dollars. It is a good investment and many times, it is cheaper to have an expert assist you than paying for it later.
Good luck with your new home
Val
[External link deactivated as per forum rules. Thanks.]
Good luck with your new home
Val
[External link deactivated as per forum rules. Thanks.]
