Can I use Owner-Financing when buying a home with an Option?
I may not understand exactly what your asking, but having an option on a home doesn’t effect how you purchase it. In other words, if the seller is willing to finance it when you exercise your option, there is no reason they can’t.
I guess my question would be. If the seller is willing to finance, why are you buying an option?
If you are the one exercising the option, there’s no reason that the seller can’t hold a note for you as the buyer. It would strike me as odd, but there’s no reason it can’t be done. The option and the financing of the sale are two different transactions.
However, if you’re the one who holds the option and your plan is to find a buyer at a higher price who will then, in turn, use the seller financing, the seller could decide not to provide the new buyer with that financing option. Also, if the buyer can not come up with any cash at closing, then you’re going to have a hard time making any money on your option.