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as seller of a house in alabama with first and last as down payment 100% financed. done this twice if i get it back i would do it again as i make money every time did this twice with my farm land in florida and got it back twice and will do it again. and as a buyer i have bought with 100% financing. i bought 3 broiler poultry farms {no collateral} 100% financing now free and clear non-operational, and i am looking to buy anther one within 3-4 hours of montgomery al. and believe i will find one i might have to use one of my properties as collateral as people are not as trusting as they were 10 years ago.
I have experience as both a buyer and seller with owner financing. My only thing is that if I ever sell again with owner financing I would ask for a decent amount down. It's too easy for a buyer to possibly trash a place and walk if they have little investment into the property.
It's a great option for properties that are less likely to sell or that may have issues a bank may be hesitant to loan on.
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