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Updated about 2 years ago on . Most recent reply

Ingrid Bardales's profile image
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Ingrid Bardales
  • Member since Jan 1, 2023
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Ingrid Bardales
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Ingrid Bardales
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Creative Real Estate Financing

Seller Finance Pitfalls

Ingrid Bardales
Posted

What  pitfalls should i avoid in a seller finance situation?  Gonna see a homeowner later today and got butterflies!!  Newbie here!!

Thank you in advance!!

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Joe Villeneuve
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  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve
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  • from Plymouth, MI
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
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Number one pitfall to avoid.  No deal unless there are no existing liens on the property.  This includes any existing mortgages.  The only way I would ever do a seller financed deal is if the seller has 100% equity.

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