@Ray HarrellSellers will owner finance because (1) they will be able to sell for a higher price because they will sell to people who can’t get institutional financing, (2) they think the interest rate they receive on the money they financed, usually 6-10%, is better that the 2% bank accounts are paying (3) they get to spread out the gain on the sale of property over many years and not be bumped into a higher tax bracket immediately, or (4) they can sell the property faster as a buyer doesn’t have to wait 45 days to fulfill institutional lending requirementsBuyers may want owner financing because (1) they save the points and other fees associated with institutional financing (2) they may own the maximum number of properties financed allowable by lending institutions (3) they as full time real property investor may not be able to prove the amount of income necessary to obtain a loan (4) they may not qualify for conventional financing, only hard money, in which case owner financing may be at a much lower interest rate (5) they may have liens, judgements, etc. outstanding that make obtaining outside financing impossible, (6) they may want to close quicker than available with institutional financing.Please let me know if this makes sense

I am a relatively new landlord and I’m trying to figure out the requirements if we needed to file a judgement against a tenant for excessive damages to our property.

Go to Small Claims, (you will automatically win)...then take the Judgement and get it recorded.

The judgement you get from the court gives you the power to potentially collect.

He does not handle evictions themselves, just the collections.It's been nice to cut him loose on deadbeat tenants, and get back payments over time for judgements against them.

It makes me immediately question their judgement and experience. 

this loan bailed this person out of a huge BK that if the trustee did not get the money today he was going to get stuck with 3 million dollar judgement..

Impossible to render a “judgement” without a skilled person to “cross examine” each “witness”.  

One other thought - I've successfully added a clause in the lease that indicates if I have to go to court and get a judgement to collect money for anything, the tenant is on the hook for 7% per year interest on that amount.

Be cautious there are not any pending lawsuits or judgements against the entity.