I have understood that financing through the seller is a better option than a bank. I have understood because of bank penalties and also money saved through doing it through a seller. How do I go about doing that? I know its also good when the seller is really desperate to sell and you give them a decent down payment in cash. Please if anyone can, throw down some knowledge.
ask the seller if their willing to carry back a note, paper, or some of the purchase price. if it’s purely for investment… you can offer to give them a balloon payment in 5 years. it’s all negotiable…you don’t even have to give interest.
just get the terms down on a purchase agreement… and let the title company whip up a mortgage to give to the seller at closing.