I have cleaned up a number of these deals over the years.. they are all great when they are working and everyone is on the same page but when they are not.. there is extreme risk to the original seller especially in Texas were a bank or lender can get a money judgement on purchase money loan.. out west not so critical original seller just gets their credit trashed if it was not already.. but there is no money judgement available to the lender for a purchase money owner occ loan in first position.

If it has not been cashed, I would cancel the check and provide a new one less the cost to cancel the old check.

Why do you think purchase contracts are so long and have such small print?

This is my very first time renting the unit as I purchased it a couple of months ago.Though they are requesting application, but being out-of-state is not instilling confidence in me. 

Is anyone using Purchase Money Mortgage ILO Contract For Deed?

Purchase price: $500,000 Cash invested: $125,000 Bought a 3 unit property 10 mins away from me!

I tried to use nerd wallet but their estimate is vague and you cannot put in purchase price/bed/bath information.

Adjusted basis is purchase price plus improvements less depreciation.

Account Closed if you want to ignore all of the strategies that get around your downpayment and just want to purchase another property outright then you would have to leverage something.  

Over 25% of the residential transactions in Northern Nevada this year have been cash purchases.