Home Buying in North Port>Question Details

Kellyk, Home Buyer in Cincinnati, OH

Looking for a owner financed home 3/2/2, in North port fl. Looking to move by May 1st. Can anyone help me find something.?

Asked by Kellyk, Cincinnati, OH Sat Apr 16, 2011

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Hi Kelly, I can help you with a seller financed home in North Port. I can be reached at 941-623-3266 or theflhomebuyers@gmail.com
0 votes Thank Flag Link Thu Apr 26, 2012
Foreclosures, short sales, bankruptcy, bad credit and not enough credit - these are some reasons why people cannot get a mortgage when trying to purchase a home. An option for some of these people is to look for an owner financed home. Some different terms that are synonymous with owner financing are seller financing, rent to own, lease option or lease purchase.

Just because the owner is willing to finance the home, does not mean that everyone will qualify. There are always terms associated with the financing. Most require 5 percent and even up to 30 percent down. Some require a credit score of 640 or higher. Interest rates, terms of the loan, and monthly payments are negotiated between the seller and the buyer.

How do you go about searching for an owner financed home? You can work with a Realtor who can check the MLS (multiple listing service) for owner financed homes. Searching in your local newspaper real estate section is another option. Many rental companies will also have rental properties that the owner is willing to sell as a rent to own. And, of course, there are several web sites that offer listings of rent to own properties.

Owner financing can be a benefit to the seller and the buyer. It is wise to check with local laws and regulations and meet with a real estate lawyer before entering an agreement to purchase a home that is owner financed.
0 votes Thank Flag Link Sun Aug 14, 2011
Kelly.

There are many opportunities in the North Port area. Contact me and we'll see what is available.

Bill

Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
0 votes Thank Flag Link Sat Apr 16, 2011
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