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The Water Cooler
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Selling a property - owner financing
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<blockquote data-quote="Range Plunker" data-source="post: 3660864" data-attributes="member: 43976"><p>If the party is asking you to accepting a large down payment and finance the remaining debt on a monthly payments--that is, until the full sale price is paid, your risk is his defaulting on a payment, which you can then cancel the agreement, and keep what he has paid as well as the land. But I would definitely consultant a Real Estate Attorney, and make sure that the proposed Agreement is written in your favor, and that the other party understands what he or she is entering into.</p></blockquote><p></p>
[QUOTE="Range Plunker, post: 3660864, member: 43976"] If the party is asking you to accepting a large down payment and finance the remaining debt on a monthly payments--that is, until the full sale price is paid, your risk is his defaulting on a payment, which you can then cancel the agreement, and keep what he has paid as well as the land. But I would definitely consultant a Real Estate Attorney, and make sure that the proposed Agreement is written in your favor, and that the other party understands what he or she is entering into. [/QUOTE]
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