It's very easy really once that is accomplished. Once you locate the property, you can ask the listing agent about the owner's terms of financing. They will very likely be charging a higher interest rate than market no matter what the buyer's credit is like. Many times, listing agents don't know the terms either so you may want to make an offer and spell out your own terms.
You use your standard trec 1-4. You will not be needing the 3rd party financing addendum. You check the box under 4c and you follow the instructions on the seller financing addendum form TAR 1914
We can help you with that. We have lot of sellers who can owner finance. It all depends what the buyer would put down and what area are they look into and what size can they afford.
If you wish, give us a holler at email@example.com
One thing I find with owner financing is that sometimes the seller wants to leave the existing financing in place. Owner financing now often only works if they own the house outright. Lots of people think they can leave the original financing in place and mostly likely they can't. We've always heard that as long as the payments are made banks won't enfoce the due on sale clause. This is not true. They are currently foreclosing on homes that had owner occupied financing in place and now renting it or selling it to someone else. Also very common these days is for the former owner to pocket the payments and then we see the home foreclosed on with the new buyer in it. They lose the down payment and the monthly payments as the former owner now disappears. This eliminates 99% of the homes on the market. You are right to be very weary of owner financed properties. Not to say there aren't possibilities out there, but very few.