Places with low cost of living that have OWNER FINACING/land contract

[High_Plains_Retired]

Originally Posted by sheena12

We do have an interest in rural property. Especially after what happened.

Bad things can happen anywhere but believe me when I say, I understand.

[kygman]

My ex is living in a house she and I bought on contract and my wife and I were living in one we had to let go simply because we were given my parents' house when my mother died and my dad moved to assisted living. We were buying a 3 BR 2 bath house on an acre lot for $625/month. That included our insurance and taxes. Sale price of the house was $72,000. Both sellers (ex's house and ours) used the same common contract where we had to contact them before we did anything to the house but neither one lived in the same town we lived in and the first one said as long as we didn't burn it down on purpose he didn't care what we did to it. Second was about the same. And, since you're buying, they couldn't say anything about no pets. And when we moved in May we had no problems. Told her we were moving and were out before the next house payment was due.
Both sellers have had several houses on contract for many years. We bought the first one in the middle 1980s.

[sll3454]

Originally Posted by sheena12

If I had a house that I wanted to get rid of and someone came to me with ten grand and a good income, I'd work something out = especially in this market.

We just sold a house. We were willing to finance, but it would have taken more than $10,000. If the buyer doesn't pay and gets upset about losing the place, a lot more than $10,000 worth of damage could be done. And if someone has bad credit, it usually means they haven't always paid their creditors on time. If a risk is too great for a big bank, it's too big for most sellers.

I hope you find what you need, but I suggest you find a place to rent, at least until you know you like the area. "I want to be anywhere but here" is not a strong reason to commit to an area.

[kelsie]

There are lots of very good deals in Eastern NC and your dogs would love the wide open spaces down here.

Good luck to the both of you. kelsie

[jodipper]

I always turn down owner financing offers. Interests rates are at an all time low. If the bank won't loan to them neither will I. If their credit is bad I wouldn't even rent to them let alone sell. After awhile I got tired of people asking for owner financing so I started to tell them I required 80% down.