Posted on: 14th Aug, 2009 03:41 pm
I was looking at this property and the owner said she is willing to owner finance. Will I be asked to pay anything outside of monthly payment to her.
Should not be.
But make sure you clear all the details with the seller
But make sure you clear all the details with the seller
Hi kitten,
It depends on what type of Owner financing agreement you are entering into. For instance, in rent-to-own type of owner financing, the buyer needs to pay a down payment, which is sort of a security deposit for renting, to the seller. This amount is credited back one the tems of the agreement are fulfilled. If the buyer backs out of the deal, the seller forfeits the money. Thus, it is best to discuss the clauses of the agreement in detail before signing it.
It depends on what type of Owner financing agreement you are entering into. For instance, in rent-to-own type of owner financing, the buyer needs to pay a down payment, which is sort of a security deposit for renting, to the seller. This amount is credited back one the tems of the agreement are fulfilled. If the buyer backs out of the deal, the seller forfeits the money. Thus, it is best to discuss the clauses of the agreement in detail before signing it.
LEGALLY NOT DO THAT
litisham, your statement is not very useful in this thread. what, precisely, do you mean by "legally not do that?" to what are you referring, to whom are you referring, are you just talking to yourself?
please don't take this as an insult or in any other negative way, but if you don't have useful information to add to the thread, please don't respond, particularly if what you have to say will only confuse anyone who reads it.
please don't take this as an insult or in any other negative way, but if you don't have useful information to add to the thread, please don't respond, particularly if what you have to say will only confuse anyone who reads it.
George, I already sent a private message to litisham about his/her posts but the response I received was just as incoherent as the posts.
Kitten
Make sure you hire an attorney to review your contract AND note. In addition, be sure to have a title search done. You do not want to buy the home if there are other liens on the property.
Kitten
Make sure you hire an attorney to review your contract AND note. In addition, be sure to have a title search done. You do not want to buy the home if there are other liens on the property.
i'm astounded that the response would be unintelligible. then again, they say that consistency is a good trait....i'm not so sure about that any more.
most of his posts are repetation fo what some one else says
Just igonre those posts guys
Just igonre those posts guys
but as a moderator (as is eric), there's a responsibility inherent that requires that we be vigilant to spot those posts (and posters) who are not just unproductive, but counter-productive to the mission of this site. honestly, this is a wonderful community of people who, for the most part, are trying to help others in need, and we don't like to see it disrupted for the sake of a meaningless response to a question.
maybe i'm just too fussy - i guess we can get that way, huh?
maybe i'm just too fussy - i guess we can get that way, huh?