Updated almost 11 years ago on . Most recent reply
San Antonio Owner Financing
Few questions about owner financing, I'm trying to learn about the process for a house I'm getting ready to put on the market. Whats the best tool to find qualified buyers (run credit/background checks etc), and once the deal is done, how long could it take to possibly sell the note? How much could I sell the note for if the house sold for lets say 100k, with 10% down, at a 10% interest rate? Owner Financing will be the quickest way to sell this particular home, and I'm trying to cash out soon as I can. Thanks for the help
Most Popular Reply
I would start by talking to a good lawyer who understands the owner-finance transaction and the parameters set forth in the Dodd-Frank Act. On the back end note sale, most note buyers want some seasoning, but I have found a few that will buy the note with as little as one full month seasoning. There is no set percentage for purchase of notes, as each deal will have pluses and minuses the note buyer. Typically I am seeing them buy at 80 to 85 cents on the dollar. I am no expert in these transactions, but have recently started down this avenue of investing. Good luck, I am interested in hearing how it turns out.