Cheers...The property would belong to the buyer.Buyer mismanages property, stops paying seller, sh*tstorm ensues, amazing free money disappears into foreclosing attorney's wallet.Hey just providing another perspective!

Many peoples lives are devasted as a result of this.. bankrupcies, people who referred friends & relatives will have destroyed relationships, foreclosures & the many other tradegies soon to ensue...

Hi Julie--I appreciate your posting this discussion and the ensuing conversation.  

Sheet vinyl was no match for washer/dryer delivery day and the ensuing gashes.

But someone else funded it and the owner of the TK was also a mortgage broker and they did about 100 homes in this one town ( all in the lowest price ranges) Many never got rented all of them had conventional loans on them and ALL went to foreclosure over the ensuing years as investors just walked.Out of area investors Need to proceed with Ultra caution and make sure those they work with have impeccable creds..

Express sympathy, explain that it's just paperwork, just a technicality, that no consequences will ensue if they can pay the rent in a few days as they have just promised, but that you just have to file the paperwork, for good record-keeping. 

In the ensuing confusion, no one could or couldn't prove who had the authority to speak for the note. 

I listed some reasons of avoidance that other trusted real estate pros told me including a lack of appreciation, higher repair costs (rougher tenants), higher vacancy rates, and occasional difficulty collecting rent.Still, with that said, my eye kept wandering towards properties in Detroit city limits, and that brings me to posing the ensuing case to you all.Looking at a property such as 20300 Albany St, Detroit, MI, it is listed for 39,900 and is turnkey (and looks pretty nice).

The skills can be learned and farmed out but many only want short cuts.Creative financing can lead to: ruining your credit for seven years, losing your job because you are constantly on the phone or have to travel to the location, being sued and having a judgment forever, causing death or dismemberment from cutting corners and the guilt that ensues, having the state or the IRS take your assets, angry heirs shooting at your windows... there are risks.Never do seller financing with someone in a protected class: (the elderly)  or anyone with access to free legal aid.This market will pass.

I Don't think real estate will crash.However, Evergrande and 4 other major investment comanies are on the ropes and depending on how it falls, it will affect Blackrock, HSBC, Deutsche and anyone else who has derivatives, in the ensuing contagion.