 Holding mortgage (by Mark [PA]) Oct 25, 2021 7:29 PM
 Holding mortgage (by Ray-N-Pa [PA]) Oct 25, 2021 9:14 PM
Holding mortgage (by Nicole [PA]) Oct 25, 2021 10:39 PM
Holding mortgage (by Jim in O C [CA]) Oct 26, 2021 6:22 AM
Holding mortgage (by 6x6 [TN]) Oct 26, 2021 8:13 AM
Holding mortgage (by Sandy [CO]) Oct 29, 2021 6:28 PM
Holding mortgage (by Mark [PA]) Posted on: Oct 25, 2021 7:29 PM
Message:
State Specific Question About: PENNSYLVANIA (PA)
I have an investor that wants to buy my rental property and wants me to hold the mortgage what are the pros and cons --76.98.xxx.xxx |
Holding mortgage (by Ray-N-Pa [PA]) Posted on: Oct 25, 2021 9:14 PM
Message:
Pro-
You get more money
You don't pay commissions
Terms can suit you and the buyer
You should be getting a sizable down payment
You are able to sell a place occupied easier
Cons-
You are the bank
You are taking on risk
You can't use tax strategies like 1031
You don't have your money
--24.101.xxx.xxx |
Holding mortgage (by Nicole [PA]) Posted on: Oct 25, 2021 10:39 PM
Message:
Consult a local attorney AND your cpa. There are very real differences between a deed/mortgage/note and an instllment sales contract,the two most common 'traditional' methods of owner financing. --98.237.xxx.xx |
Holding mortgage (by Jim in O C [CA]) Posted on: Oct 26, 2021 6:22 AM
Message:
I did it once and no problems. That 8% interest was great. I was able to spread the principle payment over 7 years so I didn't get hit with a large amount in one year. --204.152.xxx.xxx |
Holding mortgage (by 6x6 [TN]) Posted on: Oct 26, 2021 8:13 AM
Message:
Following --73.120.xx.xxx |
Holding mortgage (by Sandy [CO]) Posted on: Oct 29, 2021 6:28 PM
Message:
Rather than carrying the mortgage, I did a lease option. The reason being I could evict rather quickly compared to the foreclosure process.
Just another option to consider --68.235.xx.xx |
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