pitfalls of owner financing: Pitfalls of owner financing.
- 10/20/12 08:39 AM
An investor client just sold a piece of vacant property to a couple who want to build on it. Since he is in first position, and intends to stay that way, I think he is doing well with that sale. He has some income every month, and the property will only increase in value if a home is built on it. I was his broker for the transaction.
However, this client handled an earlier sale of a 4-plex himself. It was owner financing, with the seller in first position. Not too long afterwards, the seller had to take it through foreclosure for non-payment.
What did … (6 comments)
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An investor client just sold a piece of vacant property to a couple who want to build on it. Since he is in first position, and intends to stay that way, I think he is doing well with that sale. He has some income every month, and the property will only increase in value if a home is built on it. I was his broker for the transaction.
;)
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;)
