Owner financing

[Dominic Wentz]

 I am looking at a home for sell by owner and the owner is offering owner financing. I have not been in the home yet I will be looking at the property next week. If every thing looks good to me I will have the home inspected. 

  My situation is I can not get traditional financing at this time. So I have been looking at for these types of investments for a while and have not found one that suites me until now. 

  My question is if every thing looks good and I decide to move forward, What do I need to do to protect my self. I have never done this type of transaction before and I am nervous and skeptical of this process. Example what if I make payments to owner/lender and upon final payment they decide not to deliver deed. I have realized that i do not know enuf to move forward with confidence.

 What are the do's and dont's? And what should I do first.

[Gerald Harris]

Hey Dominic 

Welcome to Bigger Pockets

As time has passed I have realized that these types of deals are everywhere.   There are many highly motivated sellers looking to just get rid of their properties.    It looks like you will be dealing with "subject to" financing.    Here is a link i found for you here on bigger pockets.  It will allow you to understand this type of financing and how to put it together.   I will see if i can find some contracts for you to use

 http://www.biggerpockets.com/renewsblog/?s=subject...

Have a good 1