As of right now, the seller has accepted my offer and my realtor is drawing up the contract.

a few days later the seller countered and we ended up buying the property for $110K.

However, we needed to dig deeper to understand the motivation of the seller.

I could consider a personal loan for that money as well, which would let me rent out the unit faster but would require larger monthly payments.During the second year of interest only, the unit would be rented (accounting for up to 1 month of vacancy), and I would make $496 that year.At the end of the second year, I would refinance, and if the value of the house appreciated at ~2%, I would owe the seller around $10,000 after the refinance.

In some areas the potential sellers are getting 20-30 letters every month and they will tell you this over the phone when they call you.

I thought it cleared all liens and judgements on the property but the title company is now asking me to see if the seller has an owners title policy to clear previous owners judgements.I asked them is it necessary if im getting title insurance.

Try this- I owner financed a property for 12 months- and told the seller my plans to fix it up, and rent it out.

When I get my contract notarized does the seller need to be with me and who do i give the “consideration (downpayment) money too ?

Seller pays the buyer agent commission anyways so you think you are ahead of the game paying 97.5% of the sale price.

.#6 Don’t Buy from Unmotivated SellersMotivated sellers are usually willing to work with buyers, so focusing on finding motivated sellers can result in making great deals as a real estate investor.