Financing in 26508>Question Details

Marie Rehbein, Home Seller in Morgantown, WV

I have a beautiful home with gorgeous view overlooking Cheat Lake in a very desirable subdivision. My equity

Asked by Marie Rehbein, Morgantown, WV Fri Oct 17, 2008

in the home is such that I can offer seller financing. Since I am not a bank, I do not have to make my loan marketable, so I do not have to charge PMI or demand 20% down and all the fees banks charge. I am looking for a 10% nonrefundable down payment on a 5 year ballon loan, charging 5.25% interest with payments amortized to a 30 schedule. By the time 5 years is up, the buyer will have close to a 20% investment in the property. The buyer can sell or finance with a bank any time. Morgantown is a great place to live. Lots of theater, dance, music, sports, outdoor recreation, excellent grocery shopping and restaurants. Anyone intersted?

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Dear Marie:

My husband and I looked at your home last fall and we love it and inquired about renting short term. I moved to Morgantown in Jan and the problem is I can't sell my home in Washington DC area so therefore don't have more than 10% down. On paper we look way overloaded but will rent our house if don't sell it. We would love to rent or purchase with owner financing if we meet your test but the selling price as an option would have to be closer to $450K given the market. My realtor is Anna Marie Stevens but you can call me at 802-318-5836. I work at the WVU Health Sciences Center and my husband is trying to retire. Thank you for posting. Regards, Wendy KIng alternative email
0 votes Thank Flag Link Mon Apr 20, 2009
This property is MLS#10063085 and can be found through the realtor sites for Morgantown, WV.
0 votes Thank Flag Link Fri Oct 17, 2008
Make sure to also post your home on Craigslist and to show up well in the search engines..
0 votes Thank Flag Link Fri Oct 17, 2008
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