We are the seller of a house what is owner financing??

Question

Is it safe???

Answer 1

owner financing means that you are not really selling your house, that they make payments to you until the amount is paid. there is also "carring paper" which means they buy your house for say 100 thousand, but they are only financing 70 thousand, and they make payment to you for the other 30 until it is paid (usually the first couple years are interst only, then they pay you the balance due)

i would talk to the real estate agent and weigh all your options carefully.

Answer 2

It is rarely done. Do you have a mortgage to pay off? You can't do it if you are acting like a bank for your buyer.

See below

http://michaelbluejay.com/house/owner-fi...

Answer 3

Means the buyer makes payments to you, the seller instead of going to a mortgage broker. An attorney would write the contract.