Updated over 3 years ago on . Most recent reply
Seller Financing Tips needed!!!
BP! I have potentially found a great seller financing deal in San Diego!
Any tips or tricks would be welcomed greatly as I am working on this for the first time outside of conventional financing!
Willing to hear any perspective!!
Most Popular Reply
So it sounds like the seller already has terms laid out? If you guys are on the same page as far as terms go, it's just a matter of drawing up the contract and including the seller financing addendum (SFA) that you have in your CAR forms. Once this is all signed you open escrow and the transaction proceeds as per the contract timelines. The only difference is that when you close escrow will hold your note and arrange for payments to happen etc. Not all escrows do seller financing and it's not necessary, I believe, to use an escrow company but when I have helped clients with seller financing we did it with everything else in place just like a normal deal, with Escrow, TC's, Title, etc.