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Updated about 4 years ago,
Is this a scam? Seller Financing
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