i’m a newbie,i’ve been reading about seller financing as a technique for no money down,can you ask the seller to do that even though they have a balance
on their current loan,how do i make this work without getting bank financing?
Yes you can have the seller provide sellers assist if they have a blance on the property. I am acutally in the same boat as you i’m looking for investment peices(mainly rented multi-units) that I can purchase with little or no money down on the property and some seller assist.
Exactly what is causing you problems? The fact that there is a balance on the seller mortgage or the covenants contained in the mortgage? Getting seller financing is more dependent upon the sellers desire to sell and confidence in you the buyer than the balance or content of the mortgage.
Elaborate more as to what it is that is bothering you about seller financing and no money down.