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Updated about 4 years ago,

User Stats

117
Posts
50
Votes
Steve Hiltabiddle
Pro Member
  • Lender
  • Pennysylvania
50
Votes |
117
Posts

Is this a scam? Seller Financing

Steve Hiltabiddle
Pro Member
  • Lender
  • Pennysylvania
Posted

Good morning.  I had a buyer approach me with the following proposition

I'm looking for a investor to buy me a house and sell it back to me through a owner financing/land contract whit 80grand cash down for a 250k plus house that you or I find just for under 5 years


Seems they have familiarity with seller financing which makes me wonder if they have an underlying scam going on.  Perhaps get into a house for $80k then stop paying on the loan delaying foreclosure as long as possible (I live in PA which is a judicial state). 

I don't loan to owner occupants so I'm sure there are ways to keep me as owner of the property but curious how quickly this can go the wrong way.

Thanks,

Steve

  • Steve Hiltabiddle
  • 267.405.2012
  • Loading replies...