Posted by Tom on August 11, 2006 at 12:33:39:
I believe what you want to do in that situation is get property under contract and assign it to the buyer
and take back a note for your profit.
OWNER FINANCING QUESTION - Posted by ETinoco
Posted by ETinoco on August 11, 2006 at 10:46:11:
If I’m the middleman, I find the seller and the buyer, hook them up and offer to do a 20 prcnt cary back, how would that note be trnsferd to me? Can I even do that? If so what are the steps. Thank you, your information is very much appreciated.
ETinoco
CAREFUL! - Posted by SaveHome
Posted by SaveHome on August 13, 2006 at 23:54:01:
If you get the property under contract, then assign the contract, and make a loan for the assignment fee, I don’t think that would be called owner financing.
You might be originating a loan for which you need to be licensed.
If you do a SIMO closing, then you can owner finance your sale.
Plenty of other with more expertise here, so lets see what they say.