Home Buying in Queensborough>Question Details

Frankie Bark…, Home Buyer in Bossier City, LA

can u find home owner that will finance with down-payment and say 1,000 a month notes?

Asked by Frankie Barker, Bossier City, LA Wed Aug 22, 2012

Help the community by answering this question:

Answers

9
You are so right, Carolyn. Do be careful that you are protected and that you get a professional that does have experience in these types of purchases to help you. There is all kinds of ugly out there in the world just waiting to take advantage of people so please do be careful but don't lose hope.

And again, these are special and unusual arrangements as Carolyn says, but don't give up. They are out there but probably just not in abundance.
0 votes Thank Flag Link Sat Aug 17, 2013
Jayne, makes a good point, it does happen. Her point about a large down payment is the key. Unfortunately, it is a fact that people or groups who are financially knowledgeable can and do craft arrangements that are overly generous to themselves. These are special and unusual arrangements. If it is too good to be true, it probably is.

If you would like specifics, go to http://www.Zip711.com and click the Trulia menu tab.

I am a real estate professional and I help clients buy and sell real estate in the Shreveport/Bossier area. I interview prospective buyers and sellers on a regular basis. I would be glad to speak with you about opportunities in our area.

Carolyn Grimsley, CRS, ABR
Certified Residential Specialist, Accredited Buyer’s Representative
Licensed by Louisiana Real Estate Commission
Realty Executives SB
In Bossier, 4012 Benton Rd suite 110
In Shreveport, 8575 Fern Avenue Suite 105
Each company independently owned and operated
http://www.Zip711.com
Web Reference: http://www.zip711.com
0 votes Thank Flag Link Sat Aug 17, 2013
I'm seeing a lot of negativity to anything but purchasing here. I want to encourage folks that are needing to do a bond for deed, lease purchase or other type of creative financing...............it can work. I know. I've done 4 in the past 2 years. One actually of the 3 is in the process of getting permanent financing right now after doing a bond for deed for a little over a year. In this case, the young gentleman had just started a new job and hadn't been on it long enough to prove his income. He had money to put down and could pay a monthly note but did not have the work history. He paid on his house for a year and now has been on his job long enough to get financing through a local lender. The only downside to this transaction is he did have to pay about $900 for the bond for deed closing process. He was ok with that and is happy now.

Now, it is a fact, that not a lot of folks have this option to offer. But, interestingly, 3 of the 4 owners were military and had to move on to their next station so this worked out perfectly for them. Their note was being paid, they didn't have to worry "as much" about dealing with a renter because the new "buyer" had enough invested that they did not want to walk away or lose the property. Again, I do encourage a LARGE down payment. Enough for it to "hurt" the buyer if they chose to not fulfill their agreement. And if they do break the agreement or not pay the note, they are served papers by the Sheriff's Dept (just like a foreclosure but it can be done in 60 days or so, not the years it takes for foreclosures sometimes) and then put out of the home. AND the seller/owner keeps whatever monies were paid down.

So , while I do like to say all hope is not lost, do keep in mind these are options but ALL parties must be willing and able.

Call me if you have any questions 318-393-2276 or email me jayne@forsalebyjayne.com and I would be glad to help.
0 votes Thank Flag Link Wed Aug 7, 2013
That sounds like an interesting opportunity. If there is such an opportunity it will likely be with an investor, not a person who lives in a house and wants to move, unless they suddenly come into money. The homeowner will need their money out to make the next home purchase.

Investors will always manage risks and expect a better return on their investment. Any “deal” you get with an investor is an oxymoron, an illusion. It does not exist.

If you are looking for a place to live, there are strategies available for every family. If you are looking for an investment, there are strategies also. The specifics are important.

If you would like specifics, go to http://www.Zip711.com and click the Trulia menu tab.

I interview prospective buyers and sellers on a regular basis. I would be glad to speak with you once you have spoken with a lender and have a letter of prequalification. If you would like a list of local lenders to consider, please contact me at Zip711.com.

Carolyn Grimsley, CRS, ABR
Certified Residential Specialist, Accredited Buyer’s Representative
Licensed by Louisiana Real Estate Commission
Realty Executives SB
In Bossier, 4012 Benton Rd suite 110
In Shreveport, 8575 Fern Avenue Suite 105
Each company independently owned and operated

http://www.Zip711.com
Web Reference: http://www.zip711.com
0 votes Thank Flag Link Wed Aug 7, 2013
Hey Kjbj21,

I would be glad to help you find a home with owner financing options. Or perhpas you want to go bond for dead or lease purchase. There are some options out there. But what speaks loudest is the amount of money you have to put down. This makes a seller more willing to go this route if they see that you, as the buyer, have enough invested to stick to it. And to not walk away. I have done 4 bond for deed sales in the past 2 years.

i can tell you a lot about them if you will contract me. jayne@forsalebyjayne or 318-393-2276.

Call me or contact me and I will be glad to talk to you.

Thanks, Jayne
0 votes Thank Flag Link Thu Jun 27, 2013
look 6206 mansfield road. just north of 70th.
0 votes Thank Flag Link Thu Oct 11, 2012
I have a house that recently had a 9 month renovation program, I would consider owner finance. Look and call. 6206 mansfield road ken 318 300 9689
0 votes Thank Flag Link Tue Oct 9, 2012
I can. Are you offering to do the same?
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Wed Aug 22, 2012
Lease/Option
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!
0 votes Thank Flag Link Wed Aug 22, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer