Any one with experience in Seller financing in San Diego

[Sebastian Johnson]

Hello BP Community  I've recently found a owner who is willing to do seller financing, any one with good or bad experience with this method of financing in San Diego? 

[Nathan Grabau]

Seller financing is not really location specific. Your biggest risk once you have negotiated the deal with SF is that the person has note that is called, but I would just call their mortgage servicer if they have a note and see what their policy is with regards to due on sale clauses after title is transferred on properties. 

The next thing I would be concerned about is being able to refi balloons. If you are going to have your deal be a 3 year balloon on a 25 year am at 5%, with 0 down, your loan is only 7% paid off by the third year and you won't be able to find a traditional lender to do a 93% LTV loan. If you do a balloon, you need to make sure you have a plan for your refi.