Property Q&A in Knoxville>Question Details

Kristy Caldw…, Home Buyer in Knoxville, TN

What would owner financing terms be?

Asked by Kristy Caldwell, Knoxville, TN Tue May 29, 2012

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This question is about this property: http://www.trulia.com/property/3010480662-2036-Wayland-Rd-Kn…

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That particular property has a pending contract on it subject to the inspection. However, should the contract fall through, the seller would require a minimum of $5000 down, would consider a 30 year amortization with a short term balloon. I would be happy to explain how this would work for you, should the property become available.
Thanks!
Catrina Foster
Keller Williams Realty
865-414-9901
start your home search here: http://www.catrinafoster.com
1 vote Thank Flag Link Tue May 29, 2012
Hello!
Owner financing is as simple or as complex as the 2 parties make it.
KIS is the best ! Keep it simple! 1 Lease option purchase with
some money down that applies to the principal then the lease
applies so much to the "rent" (interest) of the property and so much
to the principal.
Or you can transfer the deed ( with say 20% down like a bank loan)
and the owner totes the "note" with a deed of trust.
I have such a property available here in Loudon

http://www.trulia.com/property/3072068298-1630-Oak-St-Loudon…
0 votes Thank Flag Link Wed May 30, 2012
Hello Kristy,

I am looking into what the sellers requirements would be in order to hold the mortgage.
Terms can vary based on credit worthiness, down payment, etc.

Have you spoken to a lender to see what financing terms might be available for you?
Debbie Windisch with Mortgage Investor Group would be happy to assist you. You can reach her at 865-243-9777

Best Wishes,
Catrina Foster
Keller Williams Realty
865-414-9901
0 votes Thank Flag Link Tue May 29, 2012
Kristy,

I will be happy to find out for you. There are several other owner financing homes available in the area as well.

Best,

The Adelina Rotar Group
http://www.KnoxvilleHomePros.com

REALTOR®, CRS, ABR, Short Sale & Foreclosure Specialist
"Selling 42 homes in 2011, we can MOVE you!"

Keller Williams Realty, Knoxville's Cutting Edge Real Estate Brokerage
5616 Kingston Pike, Ste 201
Knoxville, TN 37919

Direct: 865.862.8303
Office: 865.694.5904


Email: Adelina@AdelinaRotar.com
0 votes Thank Flag Link Tue May 29, 2012
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