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Updated about 1 year ago on . Most recent reply

Kathleen Jones's profile image
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Kathleen Jones
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Kathleen Jones
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Kathleen Jones
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Private Lending & Conventional Mortgage Advice

Is it ethical/ legal for a property seller to be the lender when selling the property

Kathleen Jones
Posted

My partner and I recently walked a property. In talking with our contractor to schedule a walk thru to get a scope of work, he informed us the property belongs to one of independent HMLs whom he has worked with extensively. We spoke to the property owner and he offered to fund the project. Is this ethical / legal for the seller to be the lender on the sale of their own property? Just not a scenario we have run into yet. TIA.

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Tim Bratz
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  • from Charleston, SC
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Tim Bratz
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  • from Charleston, SC
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Tim Bratz
  • Developer
  • Charleston, SC
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Tim Bratz
  • Developer
  • Charleston, SC
Replied

Absolutely!! 100%!!! It's seller financing and it's how a lot of deals are getting done these days. 

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