Posted on: 16th Nov, 2009 07:24 am
I'm currently selling a home and I have an investor that would be willing to provide private financing on the home for the new buyer. Do I need to have a mortgage broker arrange this for me or is it something I can arrange with the title company?
You can arrange it with the title company.
However you are assuming that the new buyer would want financing from your private investor, I would caution on conflict of interest issues. Since so many people sue at the drop of a hat I would caution on such an offer, it may be seen as incentive to buy and then if they get buyers remorse who knows what sort of mess you may have on your hands.
However you are assuming that the new buyer would want financing from your private investor, I would caution on conflict of interest issues. Since so many people sue at the drop of a hat I would caution on such an offer, it may be seen as incentive to buy and then if they get buyers remorse who knows what sort of mess you may have on your hands.
Yeah i agree with sojakracin
well said, sonja - any inkling of a conflict of interest could bring up a whole mess of complaints from a potential buyer and borrower. better to err on the side of caution.
i see nothing wrong with ldmallery offering the assistance of this investor, but i'd suggest that hands off are appropriate as far as getting involved in the arrangement of the financing. let the buyer make up his or her own mind.
i see nothing wrong with ldmallery offering the assistance of this investor, but i'd suggest that hands off are appropriate as far as getting involved in the arrangement of the financing. let the buyer make up his or her own mind.
