I'm living in Boston and looking to buy an apartment building with "owner financing." Does anyone have any advice on how to go about doing this. Id est... contact an agent, et cetera? I'm not sure how to find an apartment building that will offer it, or if I'm suppose to make the offer directly, or have an agent do it for me. Any help would be greatly appreciated. Thanks!!
Renting & Real Estate - 2 Answers
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1
It doesn't really matter just where you live ..... BUT; you could place an ad in the newspaper stating what you need under "Real Estate Wanted " .... If you get no answere from your ads in a month ; then contact a reputable and highly reconazible Realtor to assist you in finding what YOU are looking for ..... You can also continue to look in the calassifieds for an apartment building as well as several sites on the internet ....
2
Most public wesbites for MLS systems have limited search criteria. You can enlist an agent to set up a search for these properties for you where the owner is offering "owner contract" terms & they can then email you new listings as they become available. If the owner does not own the property free & clear AND has an existing owner contract (not a bank loan), make sure all payments (yours & the one the owner is wrapping by making his payment from yours) are placed with a contract collection agency. This will insure that your payment is paying the first underlying loan & you won't end up in a foreclosure situation if the seller defaults in his loan. Happy Hunting!
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