Owner Finance Closing

[Dean Bokousky]

So we (my Wife and I and our 6 children) live in New Hampshire and have lived in this house, in a great part of town, for 2 years 9 months. I have asked the landlord about selling to us in the past and they have now agreed. Great, but they won't name a price. The house needs work they dont wnat to do. Like the foundation under the 3 season porch has a major crack causing the slab to slope and seperate. I've had a quote done and am currently looking for another, the house also needs a roof, could use some siding work and windows. For interior just cosmetic self touches, i.e. better fixtures cabinets and so on. To my understanding because of the foundation issue the house wouldnt qualify for a loan and we dont have the 20% to go conventional. So we are trying to go creative and do owner finance. Because they wont name a price we are getting quotes for the essential things and using them as justification for our offers. But how do we do this? What are or where would we find the leagalities governing owner fianance in New Hampshire? What does the closing look like in New Hampshire, how is it structured for owner finance? Sorry this is our first purchase but we plan to maybe get another of her properties if this can work out.  Any help would be cool. You guys and gals are awsome in advance. Thank You.

[Raymond McGill]

@Dean Bokousky I hope I didn't come across as mean or insensitive. A real estate deal that you are currently living in can/will mess with your head more than you should let it. Step back. Realize it will probably be easier to find a better deal elsewhere without the angst.  Get a uninvolved party to price it.   And maybe there is a fudge factor because you live there (positive because you don't have to move, negative if you will be in a construction zone home)