can owners do some sort of owner finance?

Asked by Jackie Cooper, Nicholasville, KY Sun Jan 4, 2009

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Jamie Morgan, , Frankfort, KY
Mon Jan 5, 2009
While I don't yet know specifics about this property, I can tell you that it is rare that owners will finance but it does happen. When owners do that, they are basically acting as the bank. You would need a downpayment, proof of income and need to know how long a period of time do you want them to finance it. The most common way I have seen it done is for owners to finance (you pay them) for a period of 3 to 5 years. Within that time, you are expected to secure conventional financing and pay them off. I've also known owners to just finance it until it's paid off although extremely rarely especially with properties listed by a realtor.
Scott is right, it would be in your best interests to have an agent working just for you with only your best interests in mind. It costs you nothing, the seller pays all realtors involved.
Hope this helps!
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Scott Godzyk, Agent, Manchester, NH
Sun Jan 4, 2009
The listing agent may not see your question here to be able to answer it. You may want to call her, her name is Julia and her number is 859-221-9445 . However your best bet is to get a local and trusted agent to act as your buyer broker. you will want someone to guide you through the buying process. In most cases you can hire a buyer broker at no additional cost to you, they get paid by the listing agent at closing the fee stated in MLS. This way you have someone looking out for you. If you do not know anyone in the area i do have someone i worked with before that i can refer you to. Good luck with your search.
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