Posted on: 28th Oct, 2008 09:33 pm
I am considering owner financing a home but since I am new to this, I want to be sure I do what is correct. Can the total price of the home be negotiated as in a conventional loan for a home?
Hi justbeing_me!
I think you can negotiate in case of owner financing but it depends on the owner of the property if he will accept it or not. However owner financing interest rates are negotiable.
Thanks.
I think you can negotiate in case of owner financing but it depends on the owner of the property if he will accept it or not. However owner financing interest rates are negotiable.
Thanks.
Hi justbeing_me,
I think you're not sure as to whether you'll go for owner financing or a conventional loan. You can only negotiate the price of the home with the seller, that too, if you're going for owner financing. However, you need to arrange for the legal paperwork if you'd go for owner finance and in this regard, you need to take help of an attorney.
Before taking any decision, just take a look at how owner financing works and why one may opt for it.
May god bless you.
Samantha
I think you're not sure as to whether you'll go for owner financing or a conventional loan. You can only negotiate the price of the home with the seller, that too, if you're going for owner financing. However, you need to arrange for the legal paperwork if you'd go for owner finance and in this regard, you need to take help of an attorney.
Before taking any decision, just take a look at how owner financing works and why one may opt for it.
May god bless you.
Samantha
Yes, you can. If the seller wants to finance you, you can negotiate the sales price of the home, and you can negotiate the terms of the loan they are offering you. I agree with Samantha, that you should look into your legal rights and consult with a legal professional before entering into any contract.