Are these homes owner financed?

Asked by Stacey, Cartersville, GA Thu Mar 4, 2010

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6
..., , Lexington, MA
Fri Mar 5, 2010
Hi Stacey!

This can be a great way to be easily financed. Be sure to have a good real estate attorney working with you and iwith your Realtor to make certain that all of your interests are protected. Research the settlement costs with your Realtor to be sure that you have a good idea of the pro-rated credits to the seller and recording fees are within your budget. A mortgage calculator will help you deterimine your monthly principal and interest, but don't forget the real estate taxes, homeowner's insurance and any special district taxes/assessments/betterments that you'll need to pay. Even if these aren't paid with your mortgage you should budget for them on a monthly basis - doing it this way would allow you to compare your prospective monthly housing expense to what you're paying now or to other properties. Be sure to file a homestead exemption.

Happy house hunting and I wish you many years of enjoyment in your new home!

Tom
Eagle Nationwide Mortgage Company - Thomas.Stevens@ENMCdirect.com
A federally-chartered subsidiary of Eagle National Bank - Equal Housing Lender
0 votes
Bill Eckler, Agent, Venice, FL
Fri Mar 5, 2010
Stacey,

Generally speaking homes that are listed "for sale" are not owner financed. The typical seller elects to separate completely from the property and prefers a cash of bank financed transaction.

If you are seeking an owner financed transaction, your best approach would be to become associated with a local real estate professional and make your needs clear to them. Although not common, these opportunities do come up from time to time. Agent knowing the level of seller motivation would be your best resource.

Best wishes,

Bill
0 votes
Regina Eriks…, Agent, Marietta, GA
Fri Mar 5, 2010
Stacy
I would be more than happy to answer that question.There are a few right now in Bartow County. Contact me and let me know which homes you are referring to

Regina Eriksen
Exit Realty Donald Ray&Assoc.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri Mar 5, 2010
Any local agent can help, why not call any realty office(s) and ask your question--no link attached by the way.
0 votes
Ralph Windsc…, Agent, Hauppauge, NY
Fri Mar 5, 2010
Stacey,
Your post does not indicate the actual homes you are looking at. However, there are probably a decent amount of homes available where you're looking where the owner is willing to hold the mortgage. I would be happy to refer you to a good buyer's agent to assist you. Feel free to contact me at your convenience.

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
6311-467-0009
rwindschuh@c21princetonproperties.com
0 votes
davidwbrower, , Woodstock, GA
Thu Mar 4, 2010
Stacey,

Be glad to answer your question, but there are no specific homes referenced. Which homes are talking about?
0 votes
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