Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
Requesting Opinions: Seller Financing Opportunity
Hello All!
My husband and I are still relatively new to the real estate family and game. We have been using creative financing options to this point in order to maximize opportunities and due to limited financial resources of our own.
We have what seems to be a great opportunity to buy a triplex in Salem, Ohio via seller financing; (my husband and I analyzed the numbers, taking into account cap ex, possible vacancy, management, etc. and it is a great opportunity numbers-wise.) My husband called me today, however, concerned because the seller's agent presented new qualifications today - on the day of closing! She said that the seller's attorney instructed him to only agree to seller financing if the land contract was in my husband's name, not his company's name. This makes me anxious because, as I understand it, the whole point of putting contracts in the company's name is to protect our family finances.
Thoughts?? Do we scrap the deal? Or is it still worth going for?