Owner Financing Risks Require Due Diligence
A Think Glink reader asks about offering owner financing on a home he’s selling. He wants to know what’s involved in owner financing and who to involve in the transaction. Ilyce discusses how to assess whether a potential home buyer will make the home mortgage payments and what to do if the buyer later stops making payments. When a seller sells a home with owner financing it’s as if the seller becomes a mortgage lender or bank. That means the seller may have to be willing to foreclose in an owner financing situation. Learn more about owner financing in this Think Glink column.
