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Updated over 6 years ago,

User Stats

137
Posts
36
Votes
Bernard Chouinard
  • Leicester, MA
36
Votes |
137
Posts

Selling via Owner Financed Through Contract for Deed - Questions

Bernard Chouinard
  • Leicester, MA
Posted

Bought a property via Subto existing mortgage - Selling via warp around owner financed via Contract for Deed (or Land Contract).

What qualifications should I put the retail buyer though? DTI? Etc

Should I use a note servicing company? If so, any recommendations on note servicing companies?

With this as a subto take over, does the end buyer need to get property insurance? Or should I just pay the underlying insurance? If so, what happens when there is a claim as the underlying insurance is under the old owner?