All Forum Posts by: Jared Newsom

Joshus, the down payment is $80k, so I feel comfortable with the seller-finance situation.

Bill, I have done quite a bit of work to the house this year, but have owned it for many years as a rental.  My understanding is that I will not be considered a dealer if I only sell one seller-finance property per year.  Thank you for the insight. I will research the Dodd-Frank Act in more detail. Leasing is not an option because I need to pull the equity out of this property...

I have received a great offer on a rehab I am selling. It will be purchased by a single woman with a handicapped friend that lives with her (not on the contract).  The terms are owner finance with a balloon payment in 9 months.  Considering a worst-case senario, I may have to foreclose in 9 months.  If that becomes reality, am I going to have a legal battle on my hands due to a physically disabled person living on the property?  I am in Corpus Christi, TX.