Just as the title states. Owner finance: Is going this way to buy a home a good or bad decision? I know there are older/wiser members apart of this 1st gen section so i thought id ask you guys.

 

Sometimes you can get a better deal with FSBO because there are no commissions involved. Although, there can be problems. See, if you say you don't like this or that, the homeowners may take offence to that and be reluctant to drop the price or work with you at all. Also, if a real estate agent is involved, she will help the owners to see that it is in everyone’s best interest for the house to sell. Sometime the homeowners are a little stubborn (think the house is worth more than it is, think their way of decorating is the best, etc.).

 

If he is going to finance it, what are the terms:

Fixed, ARM, Variable
30 over 30
Initial Rate
Index + Margin
I/R per change caps
Floor / Ceiling
Prepayment penalty

 

no im just looking right now..i don't have anything set at all.....But this is the info i am looking for and what i should be looking out for. Thank you guys! I do want to buy a home soon and i will be a first time buyer

 

This isn't a lounge.

It's First Gen Non-Technical

That means that it still has to pertain to First Gens (or at least rotaries!) in some way.

Jon