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Updated about 6 years ago on . Most recent reply

Robert L.'s profile image
Robert L.'s profile image
Robert L.
  • Investor
  • from Jacksonville, FL
  • Member since Aug 8, 2008
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User Stats

70
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37
Votes
Robert L.'s profile image
Robert L.'s profile image
Robert L.
  • Investor
  • from Jacksonville, FL
  • Member since Aug 8, 2008
Connect
Robert L.
  • Investor
  • Jacksonville, FL
37
Votes |
70
Posts
Buying & Selling Real Estate

Owner financing extending a balloon question

Robert L.
  • Investor
  • Jacksonville, FL
Posted

I've got an owner financing agreement with a 5 year balloon but I wanted to put in verbiage to have an optional extension for 3-years per buyer's discretion? 

Is this something that I can put in the 'additional instructions' section of the contract?  I didn't want to be locked into a 5-year balloon in case I am unable to refinance, etc.

I know I should consult with an attorney, etc. but was just asking for an opinion.

Thanks!

Rob

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