That is one ugly offer! Ooo-wee!

Wanda

Sounds to me like this seller does not realy want to do financing at all and is making it difficult. Certainly it's not very reasonable based on what you have shared.

Jeff

Bad news from the get go..........the client running the show?

Most sellers want their equity and move on.  When they set the type of requirements you listed then it's obvious they aren't really interested in carrying a note.

Wanda - seller financing is fairly rare in our area. I will say that I do understand the seller's hesitancy in light of the current climate of defaults; I'd have to say that this is a convenience to a buyer so the fact that the terms are tilted in the seller's favor isn't surprising. I've had one seller participate in seller financing for a short 2 year period due to the fact that the buyers owned 3 other properties, were in the process of selling one, and so the timing was off. The terms were fairly stringent not unlike what the above seller had said. Kind of a hard call as to whether or not to do it or not.

It is always best to move on and not waste time on an offer that a seller will not take. It is a tough market and we have to do a lot of shopping for a good buyer. Make sure the buyer is loyal.

Doesn't sound like the seller has a need to sell, unless it is by his terms. If it came down to it he seller had to sell quickly, may not be as rigid. This is not the best market for buyers. 

I am enjoying reading the comments on this post.  I am learning a lot about the pros and cons of seller financing.  It is very rare in So. New Hampshire.

I've never had a seller want to do seller-financing.  I hope your buyers find what they want soon!!

Wanda, a question to the seller - does the seller wants to sell the home? Really?

Interesting how the perception of seller financing differs depending on point of view. As you said, "If seller financing buyers were able to meet those guidelines, they'd go to a bank."

Hmmm. I wonder who advised the seller those terms... is it for everyone or only for your client? Not negotiable, ha?

I love this business...anyone who goes to this length to make a point can be negotiated with..

If it smells, it doesn't sell. Same applies to interiors of homes, contents of a purchase and sale agreement. If the seller does not want to finance, get involved in the doo dads to make it happen, that is not your dance partner. And we all know they get prettier toward closing time. Time on market, life situations are the only thing that crank the weather vane around 180 degrees and the attitude improves for the buyer wannabe new owner cat.

Hi Wanda-owner financing is a much easier way to get in, usually with no points, no origination fees etc. so paying a higher interest rate to get in even a short term is worth it until the buyer can refi. I don't see the big deal here.

I agree with your determination that with the terms offered by the seller, if the buyer could do all of that, why wouldn't they just go to a bank and get a much better rate?  Seems like they really don't want to offer seller financing at all.  A buyer would have to be desperate to do that.  Good luck!