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ksc1220 · Joined: 13 Oct 2010 Posts: 1 1.36 Dollars($)

I've leased a $1.4m home in Texas for the past 19 months and have been presented the opportunity to purchase the home for $900k. Great opportunity to realize almost $500k in equity at closing, however at this point in time I am limited by the ~$200k down payment for a purchase. I am considering Owner Financing for 12 months then refinance with necessary payment seasoning, a 12 month Lease Purchase, or a possibly a mortgage assumption. Best option seems to be Owner Financing. Any advise about owner financing or possibly a Lease Purchase (Land Contract) here in Texas?

jameshogg · Posted: Wed Oct 13, 2010 8:38 pm Post subject:

Hi ksc,

If there is no other mortgage on the property, then you can go for an owner financing in order to buy the property. However, if there is an existing mortgage on the property, then it won't be a good option to go for owner financing as the lender may call the mortgage due immediately if he comes to know about it.

Thanks

Guest

With the down you have and a fairly good credit score I can show you and the seller a great way to go forward with this idea. If you will talk with the seller and get in contact with me I think I can make a great deal come together for both of you. If you go to a web site; Articlebase.com and look up an article under "Real Estate" sub category Financing it is titled "Plan ahead to make a good deal" it will give you some answers. I wrote the article and have a great deal more information for you.

Ron Riffel Sr

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