Most “Gurus”, authors, advisors and experienced real estate investors preach obtaining seller “carry back” financing for property buyers in order to (1) obtain financing when they don’t qualify for a 3rd party loan (2) obtain financing when the property doesn’t qualify for financing and or (3) extend the “buying power” of their capital contribution (down payment) to purchase a larger more expensive property by having the seller provide a subordinated mortgage loan.That’s all and good, but why should the seller agree to finance the purchase of his property, instead of getting CASH for his equity?

He is now selling it, and we have to buy or vacate.

If you ever need some recommendations for local service providers, community information, etc - feel free to reach out!  

@Miguelli Fernandezyes - avoiding catastrophes for new investors is the name of the game.thanks for the additional information and background. 

How do you generate a profit if you can't buy the property? 

Thank you for the information!

@Marcus GriffinTypically as part of a modification the bank will have a “shock package” which includes information and forms to be completed by the borrowerOn those forms there are questions like will they or do they occupy the property, there income, do they plan on keeping th home.This is equivalent to lying on a bank application which is most likely considered fraud Not providing legal advice but this is definitely a very slippery slope you are getting involved in.

This is generally going to be a loan product for a long term buy and hold property. 

--comunicating information in a manner that leaves no ambiguity regarding planned or expected actions--seeking (requiring) clear unambiguous answers or responses,--documenting agreements in writing.

I'm buying the property cash, in a trendy neighborhood.