All Forum Posts by: Tonya Hall

Found this deal on craiglist in my area. Wondering if the seller is offering a good deal or just putting more money in his pocket. 

ad reads: Available for immediate occupancy is a 3 bedroom 1 bath home located in Milton near Stewart Street. Buyers must be willing to do some minor work on the house. Good school district, close to shopping and Pensacola. Home has a large fenced yard. All electric. Refrigerator is not included. Owner financing is the option for this home according to the following terms: Down payment of $2950.00 (covers first month payment). $650 per month thereafter for 360 months. Monthly payment includes insurance (contents are the responsibility of the buyer) and taxes on the home

Seller told me he is asking: $66,900, less down payment money, and there will

also be an additional $5000 given for sweat equity,

which leaves a balance of 61,900 less down payment

money.

I pulled up value of property on county website and property is valued at 41000

Thank you for any input. 

Is it possible to do a contract deed purchase on a property that is in foreclosure in Florida? I found a property that we are interested in purchasing that that is 6 acres with 2 mobile homes being offered by owner as make an offer. After speaking with the seller have found that they have 30 days to vacate the premise as it is in foreclosure so they are trying to sell the property. Searches on county websites only find a closed case with Lis Pendens back in 2012. What would the risk be to purchase this property as the seller states that they are desperate to sell. 

@Justin Silverio, thank you that does help some. 

I also have another inquiry about this. Would it benefit us to get a buyers agent? And what exactly does a buyers agent do for the buyer? 

Thank you for your response Derek. So it would be like on my automobile insurance where I listed the bank as the lienholder on the insurance? 

Hi. I am new to here and new to the real estate market. I have a question about owner financing. I am in Pensacola, FL. My husband and I have found a house we like and upon calling the owner found that he only wants $20,000 for it. We actually at this time don't have the credit for traditional financing so I asked the owner about lease option or rent to own which he said no to. He said he is uncomfortable with that as he believes he would have to carry the insurance. Upon further investigation I have found articles on owner financing and contract to deed. We would like to put $3000 down and have payments around $600, what is the best way to approach this elderly gentleman with that offer? Thanks for any help. 

We are also willing to pay for the insurance and taxes on the property.