Homer (yes I am calling you that, because I believe that you will find a home in due time)

Do you have "reasonable" credit? Do you have any money to work with as far as down payment and closing costs? Have you suffered a recent foreclosure or bankruptcy? Are you currently employed?

I ask because, even with "Seller Financing", you will be asked those questions and others. Sellers may not be as stringent as the Banks, but they will screen potential Buyers before signing a Deed or handing over the keys. Prepare those answers now, before you start house-hunting.

Some things to be aware of:

1. You will often pay much higher interest rates on Seller Financing.

2. Sellers may be financing the property because it has serious structural defects, or is not in compliance with building codes, or perhaps it is just over-priced. Make sure you are getting a good house at a good price.

3. "Rent to Own" can be very risky. It is not what it is cracked up to be. You MUST see a Real Estate Attorney before signing such an agreement.

4. Sellers who finance will often structure the Deed, the Note, and the Mortgage to heavily favor the Seller. See a Real Estate Attorney before signing any "Owner Financing" documents.

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The price of Tallahassee Real Estate continues to drop.
Houses are only going to get cheaper.
Some distressed Buyers are choosing to rent, while saving up money for down payment and closing costs, and giving their Credit time to heal.
When those Buyers return to the marketplace, prices will be lower.

See a Real Estate Attorney for Legal Advice.

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Best wishes to you,
Fred Griffin - Tallahassee
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Yes, the answer below is correct and since you don't have to pay your real estate agent (the seller pays the commission), there is no reason not to work with a local Realtor who has all the access and the knowledge to help you find what you are looking for.

In Sarasota, the buyer does pay for the title fees, in other cities the costs may be born by the seller...or split. These are determinations that your agent will help with along with the myriad of other situations that you will find the agent of invaluable assistance.

Good morning! I am happy to answer your question. Seller financing is something that is decided obviously by the seller and the terms negotiated by your Real Estate agent. As a Realtor, I have the ability to search the MLS for listings that offer seler financing. A feature that the general public does not have access to due to confidentiality rules. I have worked with these scenarios before and would be willing to talk with you to see what your needs and wants are. Please feel free to call me and we can talk about it. No obligation either.

Christine DeLand
ERA Community Realty
850-933-2737