Financing in 14224>Question Details

Julie Stanley, Home Owner in Buffalo, NY

I currently own my own home but am looking to find a larger home as RTO or Seller Finance in the W.S., Lancaster, Hamburg areas. How to I get started?

Asked by Julie Stanley, Buffalo, NY Sat Aug 11, 2012

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In order to do a RTO you will have to be able to pay for whatever the expenses is on the property plus the cash flow that you SHOULD be looking to receive. Otherwise, why are you investing?

IN other words you would need to be able to see a profit at the end of the transaction. You spell that out when you buying the property. You just collect most of it on the back end(when you sell the property)

There are other options in the area to homeownership.

contact me if you need more information
0 votes Thank Flag Link Sat Mar 30, 2013
It would depend on whether or not your home would have to be sold on contingency. Meaning you would need to sell you home to finance the purchase of another. If you don't owe much on the current mortgage then it tends to make it much easier.
0 votes Thank Flag Link Thu Aug 23, 2012
My apologies it took so long to get back to you. Very few rent to owns are legit. They normally are stacked financially speaking in the sellers favor. Have you perphaps looked at a assumption loan where by you are assuming the sellers mortgage. It's unconvential but it can be done.
Flag Wed Dec 12, 2012
Thank you for your reply. Actually, we want to keep our current home as an investment and would like to avoid another mortgage by finding a RTO or owner finance. My question was how do I go about finding a RTO or OF property? Alot of the listings I come across tend to not be legit. Are realtors willing to work with a client that is looking for something other than buying with a mortgage?
Flag Sat Sep 29, 2012
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