I agree that typically an owner who is willing to risk financing is also wanting a good deal so it's unlikely you will find a win on both items, unless you are willing to give in some other area to make it a win/win for both you and the other party.
If you are looking for a higher priced property then there is a better chance to get the owner to carry. I have seen a few lately. There may be financing options for you though which would make a larger number of homes available to you.
If we can be of assistance in your figuring out the best way for you to get a home, please don't hesitate to contact us.
Ron & Brenda Cunningham
West USA Realty
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If your reason for not using a conventional lender is having gone through a short sale, foreclosure or bankruptcy and needing to wait the mandatory 2 or 3 for a conventional loan, there are 3 yr bridge loans that may be applicable if your credit is otherwise recovered. The interest rate is about 7%, the down payment 30%, but they have an exit strategy to convert you to a convention loan after the waiting period.
This way you can look at buying any home on the market as well as new construction.
Call me if you would like a referral.
Your Local Expert
Central AZ Real Estate
But there are some other strong disadvantages to doing owner financing. First of all, you are severely limiting your options on what properties are available to you, because with how hot the market is right now, there are not a lot of sellers that need to do this kind of financing. But secondly, there is usually a balloon payment in a fairly short term, where the new owner would typically try to refinance once they are able to do so. But what if your situation changes, and you can not refinance or do the balloon payment? I am just guessing the the old owner would be licking their chops to be able to foreclose on you, keep your 25% down, and all the payments you have made, and then turn around and sell the property to someone else.
However, if you really need a carryback, and you are convinced that it is right for you, feel free to contact me and let me know what kind of property you are looking for, and I will see what properties might be available.