Profile picture for Srikanth.Konda

what is the procedure for owner financing in a seller directly selling to buyer (no agents involved)

  • April 29 2010 - US
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Answers (3)

Profile picture for Liberty Mortgage

The requirements are the same as with a Bank doing the financing as the seller needs to be protected-  (((****  I would not allow any financing to a borrower with Federal and or State tax liens))-  I would have a Mortgage and Note signed-  I would additionally as the seller be kept on title until the note is satisfied-
I only ask this one question-  Why does the buyer need owner financing?  That may be a red flag to be aware as the borrower may not be able to get financing elsewhere-

  • April 29 2010
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Agree on a title and escrow company and try to find one that would be willing to help you structure the loan agreement.    Consult an attorney if the title/escrow services are insufficient.
  • April 29 2010
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Profile picture for shapiroamg

first you should have an attorney so you can draft a sales agreement. then you need to get your financing in place. if it is being provided by the seller, then you should have agreed to your terms. if you are not getting any seller financing, then proceed to the zillow mortgage marketplace and place a request for a mortgage.

  • April 29 2010
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