Seller Carryback Financing-Singh Corporation

[Douglas Schwart]

Currently in negotiations with Singh Development Company to purchase my rental home (as in condition-renters moved out) located in Columbus, Ohio with Seller Carryback Financing. 

SEEKING feedback from other Sellers of rental or primary residence homes who have dealt with SINGH Development Company agreeing to Seller Carryback Finance terms and "the end result" from beginning to end of contract terms.

The proposed offer is for 7 years, $600 monthly payment to Seller, balance due at end of 7 years, 0% interest as final overall price paid to Seller after 7 years from date of closing is inflated to $270,000. Current market value of "as is condition" rental home is $175,000 to $200,000.

Thank you for your feedback

Doug

[Chris Seveney]

@Douglas Schwart

I would run from this deal. Ohio is a lengthy foreclosure state and many fees not recoverable

0% interest and they don’t pay then you are losing money every month as they have no incentive to pay

Lastly having it at 0% and over priced from its value means if they don’t get a tenant then they just walk away as property is so upside down.

If it was me as a seller these are awful terms as a seller.