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Updated almost 6 years ago,
seller financing with an existing mortgage
hey BP'ers,
i have an off-market deal that i am trying to buy. I'm trying to avoid spending all my cash on a down payment. the seller would be interested in seller financing but he still has a mortgage on the property. the sellers owes about 130k, selling property for 265k. any creative ideas on how to structure seller financing when there is a mortgage present?
im not sure whats possible without having the "due on sale" clause impacted. thoughts?
- Kevin Hart