Looking for ideas and options—thanks! --174.204.xxx.xxx

anything you and the seller can work out is fair game.my guess is this guy is not motivated since he is making the offer and telling you what he wants,most seller finance deals is more a situation where a buyer has to explain to the seller how it works and suggest terms.if you can put down 50% why dont you just get a bank mortgage and pick any house you want as opposed to buying this one? --98.98.xx.xx

I have a perfect credit and back will give a mortgage without any problems. I was thinking it will be cheaper to take 6% seller’s financing and avoid bank’s fees. --174.204.xxx.xxx

A 50% down deal sounds great. I know I don't want to be tied to long into OWC so if they are investors, I might start them out with a 15% higher price since I am carrying. I will give them a 5% loan that adjust three or four times a year 1/4% upwards. I want them to get the place and get out of my financing. When deal with owner occupants though, it can be tricky so you will need to get under writing from a mortgage broker --98.17.xx.xxx

I would also ask for it to be assumable, that way if interest rates go up, you build in value if you sell. --209.205.xxx.xx

If you don't need seller financing, I wouldn't take it... but that's my position in life. I purchased many properties with owner financing many, many years ago ... because it was very common back then in my area. --98.237.xxx.xx

Dumb, stupid and ridiculous! Accepting 50% down will trigger all taxes due -- long term capital gains, recapture ,etc. Instead speak to a Tax Expert on real estate sales. Not more than 29% down for an "installment sale" and more to learn! --47.155.xx.xxx

seller knows exactly what he is doing, 50% down and a land contract that he will find a way to make the buyer default. rinse and repeat again in a year --98.98.xx.xx

Ken[NY] can you explain how seller can make the buyer default? --174.204.xxx.xxx

I had that in my contract. I never pushed the issue because I didn't want the place back, but it was there in case. --107.147.xx.xx

libi, 2 days late and refuse to accept the rent,tell them to get out,you would be surprised how many people will just give up. make them responsible to pay taxes and let them get far enough behind they cant catch it up.things like that. where are you in NY? I would suggest you get a deed and give the seller a mortgage for the balance, have an attorney represent you, if seller wont do that dont buy the place. seller financing is common in NY,I am upstate and do it regularly. you can look up your county clerks website online or in person and find plenty of owner financed sales --98.98.xx.xx

For now, I am not impressed with the house, compare to the asking price and the current rent. --174.204.xxx.xxx

quick no because right now everyone can get cash sale but wait a year or two when things change and it will be a different story. also most people dont even understand what it means so it needs to be explained to them and how it will benefit them. i have gotten 0% financing. what i like to do is figure out the expenses as far as taxes,insurance and then figure out a payment to them and show them how the majority of the rent is gone and not going in my pocket,that helps them understand how much is available for the payment. --98.98.xx.xx