We are looking for a home in the OKC area, including Edmond, Piedmont, Norman, possibly Yukon/Mustang. We're

Kristen
Home Buyer
Oklahoma City, OK

looking for owner financing, not sure where to look to find this? Any advice, info, would be greatly appreciated!

Answers (3)
First to answer: Kim Bays
Jace Thoreson
Agent
Edmond, OK

Kristen,
Your best bet for finding someone willing to do owner financing is going to be having a Realtor do a search for you on the MLS looking specifically for homes with the owner financing option selected. Another good place for that is going to be in the paper. There are some things to look for and to be sure and be careful about, for example, you will be best off doing owner finance than you are owner carry. There are a lot more issues that can come up that can bite you and cause some bad financial situations. Not only that but on owner financing you would be able to collect some of the additional incentives for homeowners that you couldn't on some of the other forms. Also, be sure and have title work done on the property to be sure that there aren't any hidden problems that you don't know about but end up stuck with when you go to sell the property 10-20 years from now.
This question you may not want to answer online for all to see, but why are you looking for owner financing? 95% of the time that you do an owner finance you end up paying 4%-6% more than what you do if you finance through a bank. Even if you have to use a mortgage broker and have a high interest rate because of credit issues you would still be better off than doing owner finance in the end.
If you would like to talk a little more about what to watch out for or to talk about what options may be best for you depending on your situation feel free to email me at BuyYourHome@Century21.com or call me at 405-570-7585.

Fri May 22 2009, 11:32
Jennifer Henning
Agent
Oklahoma

Hi Kristen:

I did a search on MLS of the areas you mentioned with owner financing. Here are the property listings of the properties that qualified... http://okcmar.mlxtempo.com/Pub/EmailView.asp?r=1089521747&am… Keep in mind that this is a VERY broad search. You should really narrow your search and determine your price range. Some of these properties need TONS of work and some are turnkey. I would love to help you, call me at 405.625.1576 or email Jenn@JenniferSellsOklahoma.com.

Thu May 21 2009, 18:59
Kim Bays
Agent
Midwest City, OK
FIRST ANSWER

Kristen,

That is something I can look for in the MLS, which provides more information to us Realtors than what you would see on the online real estate websites. What price range/beds/baths, etc are you looking for? Go to my website and email that info to me and I will search for the houses that meet your criteria that also provide owner financing. http://www.OkMetroRealEstate.com . Talk to you soon!

Thu May 21 2009, 17:22

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