Looking for owner financing...

Asked by Helen, Zephyr Cove, NV Wed Jan 19, 2011

Just got the bad news from a lender that I cannot qualify for a mortgage due to being a tipped employee and owning other properties. I have a credit score over 700 and make over $50K year. I am looking for a home in SW Florida in the $150K range with a pool and waterfront. If anyone has an owner willing to finance please let me know.

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Tammy Hayes, Agent, Port Charlotte, FL
Mon Apr 25, 2011
I ran a listing of seller financing and lease purchase properties in the area and came up with 17. Many of them are condos, there are a few villas and single family homes. If you would like me to send you the listings, please contact me with your information.

Tammy Hayes, Realtor, Green Lion Realty, Port Charlotte, FL
0 votes
Don Tepper, Agent, Burke, VA
Wed Jan 19, 2011
Check out a blog I wrote on how to find a lease-option/rent-to-own: http://bit.ly/findaleaseoption You're looking for the same thing: a seller who doesn't need his cash up front.

You're likely looking for someone with equity in the property (though that's not a requirement). You're looking for someone who doesn't need the sales price in cash. Maybe someone who's already renting their property out.

Dp2 is correct that most owner financing deals are negotiated. But it's best to start with owners who, at least statistically, are more likely to be willing to do owner financing.

Hope that helps.
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Helen, Home Buyer, Zephyr Cove, NV
Wed Jan 19, 2011
Thanks for your reply. I'm looking for a second home right now, then it will be a permanent residence in 5-10 years time. I have a 20% down payment as well.
0 votes
Dp2, , Virginia
Wed Jan 19, 2011
Deals with owner financing typically are negotiated--not found. Are you looking for another income property, or are you looking for a residence?
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