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Updated almost 15 years ago,
my first deal, owner carry, large dp, need advice!
I'm seriously considering the following deal,
Condo in the French Quarter in New Orleans (400 square feet) which is typical for that area
Purchase Price $115,000
Owner will carry with 60K dp
I wanted to know what type of contracts i should look into, the owner is very flexible with payments, but I wanted to hedge my risk and put a stipulaion about finding a renter within two months in the contract...has anyone ever heard about these types of deals? It is ok to ask for that kind of condition?
Thanks in advance!