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Updated almost 8 years ago on . Most recent reply

User Stats

69
Posts
34
Votes
George Voutsinos
  • Investor
  • Philadelphia, PA
34
Votes |
69
Posts

Seller Financing - Real Estate Attorneys Needed (Philadelphia)

George Voutsinos
  • Investor
  • Philadelphia, PA
Posted

Received a phone call from one of our letters we sent out and as I was talking to the seller and listening very closing I was getting subtle hints that seller financing may be a great option for both of us.  One, they were unhappy with the capital gains tax when they sold their other properties.  And two, they were unhappy with the returns they were getting from their money sitting in the bank.  Perfect opportunity for seller financing.  So I explained everything to them in great detail and they were on board BUT he wanted to run it by his attorney first and he had a meeting with him in a couple days.  So the very next day I mailed the seller a letter explaining what we discussed on the phone and how the seller financing option would work listing all the benefits, etc..  That way he'll have something to show his attorney when they met.  WELL, the attorney told him it's too much risk and now the seller doesn't want to pursue the seller financing option.  Are there any attorneys on this forum that are familiar with seller financing and contract for deeds?  I'd like to have an attorney familiar with contract for deeds call his attorney.  Many times, when someone has never heard of something before or knows nothing about it they automatically rule it out and label it "too much risk" or think it can't be done.  

Please let me know.

Thank you.

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