Has anyone delt with a lender exercising the due on sale clause when a seller has agreed to seller financing? If so, how often does this happen?
Rarely, if ever…just make the payments on time.
Keith
I’ve had some DOS issues with Countrywide. Never had a problem in a stagnant RE market, though. Any lender can call a loan due with any type of seller assisted financing. In my experience, some lenders want to own properties in hot markets and look for any reason to invoke the DOS.
I’ve learned ways to avoid the appearance of seller financing in all my transactions.
Regards,
Dave
What are some ways to mask it?
Learn all you can about inter vivos Illinois Land trusts ala Bill Bronchick or Bill Gatten. You can google them and get a wealth of free information.
Regards,
Dave