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Updated about 4 years ago on . Most recent reply

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
Most Popular Reply

Usually guys do seller financing when they've owned a property a long time and don't want the bother, however, don't want a tax consequence (depends on how structured) of a sale.
I haven't heard of someone creating a deal for the sole sake of being a lender. Think I'd rather take the same money and invest it.