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Updated almost 3 years ago on . Most recent reply
Owner finance need to figure out contract.
First time on BiggerPockets & first post.
i’m working on a deal the homeowner wants 100,000 for the home asking for 50-60k down homeowner will finance the rest any recommendations on how to write up a contract for this?
Do we involve a lawyer a banker don’t know where to start.
Thanks for the help and any information someone can give me !
Matt
Most Popular Reply
@Matthew Robledo Agree to terms and take it to a title company. They will do the promissory note and mortgage. I don't know why you want to tie up that much money on a owner carry, unless he is financing at 0%. 20-25% down on a regular mortgage. Additional benefits include an appraisal.