Profile picture for billy115

sale by owner

like to find a house where the owner will carry note!
  • July 12 2010 - Molalla
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Answers (5)

Best Answer

I work with lots of sellers who are willing to do owner financing, but there is usually a reason for that. The most common one is the home can't sell on traditional financing because of the need of certain repairs that are required by the lender.

Most owners right now unless you put a considerable amount down won't carry a contract because of the same problem the banks are having. They are having to foreclose and they are getting the houses back in less than desirable conditions.

But, if you are interested contact me and I can get you a list of homes that are presently available on owner contract.
  • July 12 2010
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Profile picture for billy115
Todd HI!
Thanks for the input as very well worth my consideration!
Strong consideration since I'm new around these parts,
Credit has some problems that bi=uilt up
Like if One was with no money up front an property was in good condition nothing major wrong.
Low monthly payments yea I will take notice
  • July 14 2010
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I have many, many clients that want the same thing.  However, it's difficult to find in the MLS for an owner to carry a contract. 

Those listings are seldom.  What I have advised my clients to do is to go through the MLS and find homes that they like.  Send them to me, and I will call all of the listings agents and ask if the seller will be willing to carry a contract.  I have found some that will do this.

You could try the same approach.  You just have to ask...

Best of luck!

Kimberly Kinville
East Metro Specialist
  • July 13 2010
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Profile picture for Debbie Holmes
I agree with Todd.... Most of the owner carries have something wrong with them or are overpriced (sometimes both).  It is possible to find one but for a fair deal most people want a  lot of money down....Who can blame them... If you were credit worthy you wouldn't need an owner carry.....  Look for an owner carry with an agent (and perhaps on craigslist).  Make sure the money is running though a title company... Just cleaner that way....Good luck!
  • July 12 2010
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Profile picture for wetdawgs
Good luck!

This is a very rare situation, one most owners (even those who owe nothing) are not willing to consider.   At Zillow, occasionally someone notes that seller financing is available in the description section.  Otherwise, an agent may be able to sort this feature.

Be aware, seller financing is usually at a higher interest rate than the market rate and requires a substantial down payment, plus has a balloon payment after a few years.  

If seller financing doesn't pan out, and if you are currently unable to obtain financing from regular lenders, spend time studying why and make some corrections.
  • July 12 2010
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