You have a wide range of advice, and I agree with most posts....seller financing is first and foremost hard to find, and even if it is found, the buyer typically falls out of the transaction at some point, and the home reverts to the original owner.
You mention you do not "have time to fix (your) credit." I am not sure that is true. Most good lenders will be able to assess your credit quickly, and most have the ability to use "rapid rescore" that can get new scores in less that 72 hours. Tackle that credit now! Besides, many times sellers check your credit too...
We at American Bank do not charge for credit repair services either! We have many times improved scores enough to get the deal CLOSED!
Best wishes whatever you should decide....Jim, American Bank, 703 615 4675.
As a buyer, you pay nothing. Good luck to you!
I dont mean just fsbo, seller financing in general. They would gain money with intrest and if I defaulted, they keep all
I am a real estate agent, please feel to use me as a resource. I work with clients with less than perfect credit because i was a person looking to purchase a home with bad credit. I learned a lot during my pursuit of buying a home. So I share my information with my clients. 215-531-0481.
If you don't have time to fix your credit, pay for someone to do it for you.
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010
To answer your question, it will truly depend on the seller you are working with.
On the one hand, the seller knows that a bank won't lend you money so if he/she wants to sell their home to you they may have to extend this option. On the other hand, the seller now knows why the bank won't lend you money and may want to follow their logic.
Your best bet if you really want a house, is to let the seller know that you will pay a substantially higher interest rate than the going market to help mitigate the risk. If you need anything else, please let me know.
Timothy Garrity | Realtor & Consultant
Suggest you consider renting and taking the time to repair your credit.
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