Is owner financing and seller financing the same

doniamariewalsh · Joined: 24 Aug 2008 Posts: 1 1.32 Dollars($)

i paid 6,1oo down on a rent to own property from my landlord i was told that i had to pay no closing cost at time of purchace thats ithin 3 years now he offered seller financing and is asking for 5,000 more he seems very nice and trust worthy he also is behind in the mortgage payments and taxes because of previous rent to own participant I started to do repaires on the house and he did say that he willget mortage up to date and taxes when he recieve the mony. should i go ahead with this deal .

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.80 Dollars($)

Hi doniamariewalsh.

Welcome to the forum.

The owner financing and seller financing are the same the same thing. But it is tough to say whether you should continue with the deal or not. You have already paid $6,100. So I think you should contact with any real estate agent and consult with him whether you should continue it or not. But I think you should ask the seller to pay off the Tax lien ASAP.

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