I am looking for owner financing home in High Point. It has to be 3 BR/2bath less than 30K

Asked by GCP2000, 85029 Sat Oct 9, 2010

I am looking for owner financing home in High Point. It has to be 3 BR/2bath less than 30K

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5
Tim Taylor, Agent, High Point, NC
Thu Mar 10, 2011
Hi, it's tough to get a 3/2 in that price range, especially in a decent area; nonetheless with owner finance.
0 votes
Larry Story, Agent, Greensboro, NC
Sun Oct 10, 2010
GCP,

What you might want to do is have an agent help you find a lease/purchase home. This would essentially the same thing. You can structure the deal to be just like a mortgage. Now some questions that the agent will need to know is;
A) how much money you can afford to put down as an "option" payment. The option payment is traditionally non-refundable. What the option payment is for is to "buy time" since the home is for sale you are paying the owner to take the home off the market.
B) How much you can afford as a "Lease payment". Now a good agent will structure the deal to include a percentage of your lease payment to go against the purchase price just like a mortgage payment.
C) You will have to have an idea of how long it will be before you will be able to move ahead and purchase the home. The sellers will want a deadline even if it is two years that they can look forward to selling the home.

Now to find one that is less then 30,000 it will be more llke an investment property that needs some work.

Hope this helps,
Web Reference:  http://www.storybookhomes.ws
0 votes
GCP2000, Home Buyer, 85029
Sat Oct 9, 2010
Sorry, this cirty is in North Carolina.
0 votes
John Walin, Agent, Libertyville, IL
Sat Oct 9, 2010
also, most current mortgages are not assignable to you as a buyer. So you could only do the owner financing if there was no bank involved.
0 votes
John Walin, Agent, Libertyville, IL
Sat Oct 9, 2010
tough request look on realtor.com
0 votes
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