Okay, let's move on to our second creative financing strategy, which is the owner carry or seller carry. Now, what we're looking for is a seller who owns a property free and clear and is willing to accept most of the purchase price in the form of financing. That means you give a small amount or very little down, and the seller takes a note for most of the purchase price. This note is collateralized or secured by a mortgage or deed of trust against the property. So, you would get title to the property, the seller would get some money, a note, and collateral as a lien against the property. Ownership would be in your name or the name of a trust or LLC that you set up, and the seller would have a lien against the property. If you don't pay on the note, they can foreclose it under state law. Now, typically, when I make an offer to a seller who has a free and clear property (and by the way, you might be wondering who has a clear property these days, everybody's mortgaged up to their eyeballs), the reality is 31% of America is free and clear. Nearly one-third of properties don't have mortgages against them. By the way, can you buy a list of properties that are free and clear from public record sources that you can mail to and propose an offer? Absolutely. So, if you come across a seller who's free and clear, typically, I like to make two offers on such a property. The first is going to be a lowball cash offer, and the other one is going to be a terms offer. Typically, the cash offer, depending on the work the property needs, but typically, is going to be in the range...
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Owner Financing homes Form: What You Should Know
Printable Owner Financing Agreement Template. Formal. • Printable/Downloadable Owner Financial Documents • Buyer Financial Form (Check/Money Order, Certified Check, Money Order, Credit Card, Wire, PayPal, Visa, MasterCard, Discover) • Buyer Signature • Buyer's Signature (Copy and paste on front of Owner Financing Application Form) Ownership Form PDFs by Zip file Use the printable template to create an easy form to obtain a mortgage or deed of trust for a loan; or to buy property without a mortgage Fees for Seller Financing Purchase Agreement Buyer Signature Payment • Buyer Signature (Copy and paste on front of Owner Financing Application Form) Payment to Seller in full by check or transfer; • Send check; • Send cash (US currency); • Pay with PayPal, a third party payment service. This includes online payment sites, such as PayPal.
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