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Updated almost 11 years ago,

User Stats

50
Posts
8
Votes
Drew Dim
  • Rental Property Investor
  • Anchorage, Ak
8
Votes |
50
Posts

Owner Finance vs Rent to Own

Drew Dim
  • Rental Property Investor
  • Anchorage, Ak
Posted

About 6 months ago I made my first deal by selling some raw land I owned. To lock in the price I wanted I offered to owner finance w/ 50% down. As I was reviewing the contracts I learned that if you owner finance in Tx if the buyers default I don't get the property back, it actually goes to auction. The title company lawyer and a different real estate attorney I spoke with both said its true. Does any one know any more details about this? I could very well not understand everything correctly.

Is it possible to get around this legally, one could "rent-to-own" or do something to where if the buyer defaults u can foreclose on the property and get it back vs. having to put it to auction??? What financing methods are available???

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