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Patrick Clowes
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Lawyer, Short Sale & Foreclosure specialist
Patrick Clowes answered:
Owner carry is desirable only if you want the interest income or if the buyer could not otherwise qualify. There are a lot of buyerss who do not wualify right now, so offering to carry all or part of the financing could open up otherwise unavailable market segments.
The most important thing right now is to clearly identify your goals and accurately evaluate your property, based on comps, rental history, etc. You also need to assess your tolerance for risk and set parameters for the owner carry - so you can be the one to propose the terms & requirements, rather than the buyer, Patrick Clowes J.D. http://www.BoulderRealtyBrokers.com
The most important thing right now is to clearly identify your goals and accurately evaluate your property, based on comps, rental history, etc. You also need to assess your tolerance for risk and set parameters for the owner carry - so you can be the one to propose the terms & requirements, rather than the buyer, Patrick Clowes J.D. http://www.BoulderRealtyBrokers.com
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