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I am interested in purchasing a property offered for sale with owner financing (seller financing). Fixer upper ok but the title needs to be clear of liens or unpaid assessments. My goal is to pay off mortgage note in 5-10 years. Willing to pay asking price plus reasonable premium for owner financing. Approximately $60,000 +/- home wanted (60k is just an arbitrary number
and it will depend on house value/condition and area). 2 + bedrooms and 1+ bath with any square footage as long as it is on its own land. Cosmetic issues ok and in fact, a fixer upper is desired as long as it is structurally sound, habitable and not in need of total rehab.
We both will benefit. I get a home and you get your advertised price AND make a profit through the interest and premium. I am not interested in rent to own scams or lease options. Example of financing situation would be: $3000-4000 down made by 3-4 monthly $1000 installments with monthy payments under $900 for P&I and a payoff within 5-10 yrs with no prepayment penalty as I would like to pay off as soon as possible. The first 3-4 months woud be the $1000 toward down plus the 900 monthly payment. Interest on financed amount would be 8%. Owner would pay closing costs (which should be minimal on this type of loan). Down payment will be paid as described and closing would be after 3000-4000 received in full.
Example: Price of home: 60,000 (After premium applied)
Down payment: 3,000
Financed amount: 57,000
Monthly payment: 7 years: 888.00 (Annual amount: 10, 661 - total 74, 627) or 10 years: 692.00 (Annual amount: 8299 - total 82,990)
The closer the price is to 60,000 or more, the closer I would want to finance for 10 years but my goal is to pay off as soon as I can so I would want no prepayment penalty. Send me pictures of your house and terms you are looking for and I will consider. SERIOUS INQUIRIES ONLY!
Please direct message me with contact info and details of what you would be willing to accept for terms and I will contact you. I would prefer to do a drive by prior to negotiations. For obvious reasons I do not want to post my phone #.
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