Quote from @Jonah Gunalda: @Chris Seveney could you elaborate more on point number 2?

Quote from @Brock Guildner: hey Chris.

Quote from @Chris Seveney: @Jerryll NoordenI love this post!

@Chris SeveneyYou have to know why the owner wants to sale.

In a perfect world an assignment (like @Chris Seveney suggested) would be recorded with each transfer of the note but in reality that does not occur.

Quote from @Jay Hinrichs: Quote from @Erik Estrada: Quote from @Chris Seveney: @Wyatt FermMost of those lenders will want an appraisal done.

Quote from @Chris Mason: Rather than starting with one lender and going back to the tenants, another approach would be to work with a commercial mortgage broker who will put the full credit package in front of 10 or a dozen lenders, and see what they come back with.For example, for scenarios like this, I've seen lenders come back and offer a new loan that has a maturity that's coterminous with the lease.

To add to Chris's advice - Consider your long term goals.

Thanks Chris, that's really helpful!

Quote from @Chris Seveney: Quote from @Hector Espinosa: Hi,I'm negotiating a seller financing deal which may be my first one and would like to ask for some advise about and what are advantages and disadvantages about seller financing deals.These are the seller financing terms:House Price: $330,000.00 USD​ (Sellers still owe ~$301,000 USD)Down Payment: 5% = $16,500 USD​Loan Amount: $313, 500​ (Monthly payments will be amortized as a 30 years loan​)Interest Rate: 4.531%Balloon Loan Term: 5 YearsMonthly Payment (P&I): $1,594.24​Closing Costs:  ~$3300 ​Zip Code: 74105Observations:       * HVAC requires an update but pending to inspection (replacing with a new one will cost ~$10,000 - $15,000 USD )     * Expected Rent Income: $2,000- $2,300 but this is has been really complicated to get a good estimate because is all over the place in the different sites I have checked