There are no set conventional guidelines for bk's short-sales or foreclosures; a seller can still finance your purchase.
A seller can be more flexible than a bank or financial institution when analyzing your overall income if you are self employed or own a business.
Require down and monthly payment and payback terms are negotiable between buyer and seller and or their agents'.
Cash flow from a seller financed note may exceed that of the fair market rents.
The buyer pays for the monthly mortgage, taxes, insurance and association dues and is responsible for upkeep and maintenance.
There may be potential tax benefits by seller financing your home. Consult with your tax professional or CPA.
Finding Paul and working with him in the purchase of our home was slight miracle. We did not think we would be able to find a home to purchase because of some credit issues. Paul knew what we were looking for. He sent us various properties over a 4 or 5 month period and one of them fit what we were looking for. He directed us to an opportunity to buy instead of rent with an owner financed deal. I was about to deliver our first baby so I was getting very nervous about the time frame in which it was taking place. He kept us calm and got us into our home with one month to spare before our daughter was born. I would highly recommend Paul to anyone looking for a home.
Shane & Khara
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