OfflineHello Every one, I have a question once again, I have a client who does not qualify for a bank loan but he have a down payment so I'm searching for properties that are owner financed and my question is what contract can I use to get payed by the buyer.
A tip will be appreciated and have a good day
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In addition to lease options and other contracts you can buy the house with owner financing and then sell the house with owner financing as well.
This is a little more complex than those Drew added but it can make quit a bit of money.
To do this you will talk with a Title company or closing attorney. They will draw up a mortgage or Trust Deed as well as a promissory note. The mortgage or Trust Deed allows the lender to foreclose and the note defines the terms of repayment. The terms would be the interest rate, payment amounts, and amortization.
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