Investor · Louisville, KY · Member since 2011 · 1k+ posts · 1k+ votes
8y
Hey @Peter Bui - typically when utilizing seller financing the buyer (i.e. new owner) is responsible for the taxes and typically will save up the funds to pay the whole tax bill each year. I've not heard of a situation where the financer would do an escrow and frankly I wouldn't want to have to depend on them to pay it. If it doesn't get paid, you are the one that can end up losing the property.
Investor · Louisville, KY · Member since 2011 · 1k+ posts · 1k+ votes
8y
Hey @Peter Bui - typically when utilizing seller financing the buyer (i.e. new owner) is responsible for the taxes and typically will save up the funds to pay the whole tax bill each year. I've not heard of a situation where the financer would do an escrow and frankly I wouldn't want to have to depend on them to pay it. If it doesn't get paid, you are the one that can end up losing the property.
Investor · Taylor Mill, KY · Member since 2016 · 2k+ posts · 964 votes
8y
@Peter Bui You can open escrow through a third party or pay in full, many ways to structure it. Ultimately you'll make it whatever you and the seller are both happy with.