Subto/Seller financing advice

[Taylor Bettencourt]

Hello, 

I'm looking to purchase my first home (not an investment property initially) with either of these types of financing. I believe Subto is technically the way I need to proceed due to the home having an existing mortagage. It is an off market deal that needs work to be comfortably habitable and I'm trying to think of how to structure the offer. I would like to request a low interest rate from them as well as a purchase price around $180k if they would take it. Ideally this would be amortized over 20 years or so. Has anyone had any success with these types of financing?

Thanks!

[Shiela R.]

@Taylor Bettencourt hello. I've done mostly creative financing to acquire my deals. If the place needs work or the payments are in arrears, I ask for the deed (subto). However, when the seller is current and they have equity I propose a L/O. Minor work is okay. There's a few posts that explain in more detail if you search BP up at the top right (magnifying glass).

I was taught and now teach specific language based on NLP that is tried and true to lock up deals and create a win/win/win for all.  I have attorney drafted contracts and I would suggest that is what you use as a licensed agent especially.  Feel free to reach out if you still have questions.